Sweden: SICAV-SIF’s ruled non-equivalent to Swedish special funds


The Swedish Supreme Administrative Court issued a ruling, on 18 March 2016, stating that a Luxembourgish SICAV-SIF cannot be considered as equivalent to a Swedish special fund in regards to the Swedish provisions on the standard income taxation for the holding of shares in fund units.

As a result of the Swedish Supreme Administrative Court’s ruling there is the possibility that this may impact all non-resident funds that are legal entities, and not only Luxembourgish SICAV-SIFs. Furthermore, it is expected that the ruling may also be applicable to withholding tax on dividends, where non-resident funds that are legal entities (and non-UCITS) are currently eligible for withholding tax exemption, if they fulfil certain conditions.

We continue to monitor the Swedish market and will provide further information as it becomes available.

This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice.