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IPO
Are you and your company considering a stock market launch? If you are well prepared before initiating a listing process, and well informed about the requirements of listed companies, then there is much to gain.
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External audit
It is important for us to deliver a high-quality audit of an annual report. We think it is important to look beyond the accounting and instead focus on your particular business and the agreements that form the basis for the accounting. Our experts can help you with an external audit of your business.
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Sustainability audit
External quality assurance made by an independent specialist creates security both for your company and for those who will use the information. The credibility of the information is also increased by your company asking for an external certification.
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International audit
Our audit specialists at Grant Thornton's International Business Center combine international experience with technical and industry-specific expertise. Through honest and straightforward communication with you as a customer, we create a better customized international audit.
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Internal audit
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IT Assurance
Digital information management requires great security, both in terms of protection against intrusion and against loss of data. Our experts will help you find an optimized solution adapted to the company's information management.
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Closely held businesses
Grant Thornton’s tax consultants offer customized solutions for owners of close companies based on their specific needs.
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Company taxation
Legislations and practices on companies and corporate taxes change constantly. We ensure that you stay updated, so that you can avoid problems and take advantage of the available tax benefits.
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International taxation
We'll answer your questions concerning corporate tax, value-added tax, international transactions, and impact assessments prior to establishments. We also offer help in establishments of branches or subsidiaries.
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VAT
Virtually every transaction in a company needs VAT management. The rules may seem complicated, and improper handling of the VAT can cause unnecessary costs and penalties for your business.
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Business advisory
We provide strategic advisory that helps you plan, prioritize, and execute your important business strategies more effectively. By doing this, we support the long-term development of your business.
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Company services
Our team at Company Services are experts in corporate matters and can help you when you want to start a company, make changes in an existing company, or terminate your business.
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Financial reporting
Grant Thorntons consultants support financial managers, accounting managers and CFOs with the company’s financial reporting. We offer professional support regarding legal reporting based on established laws and requirements.
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Forensic services
In today's complex processes, more and more input is required to achieve positive outcomes. Current determining factors for resolving disputes include insightful analyses, informative reports, and presentations. Grant Thornton’s experienced experts provide financial and economic analysis which helps to resolve disputes in an efficient manner.
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Governance risk compliance
We assist expanding companies, as well as those companies going through changes, by providing useful internal control, compliance and process efficiency. We can help your company reach long-term and sustainable results with effective governance and risk management. Our experts have extensive and substantial experience within the industry.
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Sustainability services
The world's demands the performance on companies' are increasing, not only financially, but also environmentally and socially. It is the company's' total responsibility and the function they fulfill in society that counts.
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Integration & Separation
We support our customers throughout the entire process, from defining separation alternatives and understanding the potential impact on value creation, to developing and delivering robust separation plans.
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International services
Our International Business Centre (IBC) provides services in auditing, advisory, accounting and tax, with an international perspective for the international market through our member companies in over 140 countries.
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Internal audit
Grant Thornton can carry out targeted audit efforts on behalf of the internal audit. The entire internal audit function can also be outsourced to Grant Thornton as we carry out audits in accordance with the Board's approved audit plan. Reporting takes place on an ongoing basis with clear review results and relevant recommendations for improvements.
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M&A services
Grant Thornton´s dedicated team focuses on helping you to get the highest value possible when selling your company. We project manage and support you in every step of the sales process, so that you can focus on your daily operation.
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Transaction advisory services
In connection with acquisitions, our transaction advisory team helps you through the entire process: from advisory and pre-bid support, reviews of letters of intent and tax structuring to financial and tax due diligence, and share transfer agreement advisory.
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Valuation services
Our specialist team can help with all types of business valuations. The team has broad experience and continuously performs independent valuations, indicative value statements and fairness opinions (so-called second opinions).
New Swedish corporate tax rules
21 Mar 2018On 21 March 2018, the Swedish Government remitted its proposal on new corporate tax rules to the Council on Legislation (Sw. Lagrådet). The proposal contains new rules on interest deductions, financial leasing and a reduced corporate tax rate. The proposal is mainly based on the Ministry of Finance's consultation on a proposal that was issued 20 June 2017.
Under existing rules, interest expenses on intragroup loans may not be deducted unless either of the following requirements are met i) the interest income is taxed at a rate of at least ten percent in the country in which the beneficial owner is resident, and the main reason for the loan is not to obtain a substantial tax benefit; or ii) the loan is obtained for commercial purposes and the recipient of the interest income is resident in another EEA country or a country that has a tax treaty with Sweden. Current rules are considered very complex and unpredictable and have been criticized by the European Commission.
The remitted proposal, inter alia, contains the following new rules:
- Current interest deduction restriction rules will be maintained but have been somewhat modified to become more predictable, with a focus on tax planning measures
- A general interest limitation rule, applicable on intragroup loans and external loans, only permitting a 30 percent deduction of EBITDA
- The EBITDA interest limitation rule will only be applicable on net interest costs exceeding five million SEK
- The corporate income tax rate is lowered from 22 to 21.4 percent as of 1 January 2019. A further reduction to 20.6 percent will apply from 1 January 2021.
- New rules in relation to financial leasing agreements, where the interest component should be specified and thus subject to the interest deduction restrictions
- Rules to neutralize the effects of cross-border hybrid mismatch arrangements
- Beneficial treatment of depreciations on new rental apartment buildings
The rules are proposed to enter into force as from 1 January 2019.
Has the Government adhered to the criticism on the Ministry of Finance's proposal?
In general, comments and criticism on the Ministry of Finance's proposal focused on what basis the deductible interest should be calculated, i.e. EBIT or EBITDA, and why a less favorable rate of 25 percent of EBITDA should be applied, compared to 30 percent of EBITDA, which is the level applied by many other EU Member States. In addition, criticism has also included the threshold level of the de minimis rule, i.e. that the rules only shall be applicable on net interest costs exceeding SEK 100,000, and the temporary limitation to utilize tax losses carried forward. The Government seems to have listened to the criticism and chosen to apply a 30 percent EBITDA-rule, an increase of the de minimis threshold to five million SEK, and decided not to introduce a temporary limitation to utilize tax losses carried forward.
What are the tax consequences?
For low leveraged companies, the proposed rules should generally result in a lower tax cost. On the other hand, for highly leveraged companies, such as real estate companies, the rules will result in a tax increase. For real estate companies investing in new rental apartment buildings, the impact may be somewhat alleviated due to new depreciation rules.
The Government's intention is to present a government bill to the Swedish Parliament in mid-April 2018.
