Scope of application
section 1 of this Act apply to such automatic exchange of
information referred to in the agreement between the Swedish Government and
The Government of the United States to improve
international tax compliance and to
implementing FATCA (FATCA).
Transfer of data
section 2 of the tax agency, to the Federal
the tax authorities by means of automatic exchange transfer
information provided by the Swedish tax agency has received in the form of
control tasks and that, according to information from the
a reporting obligation, concerning a reportable
account as described in Chapter 2. section 21 of the Act (2015:62) if
identification of reportable accounts with reason
of FATCA. Information shall be transmitted on the information
(a) to be provided in accordance with Chapter 22. 2-8 sections and chapter 24. 4 § 1
tax Procedure Act (2011:1244).
The information shall be transmitted at least once a year and
include information about which currency each amount specified in.
Administrative or other minor errors
section 3 of the Revenue Commissioners shall inform the Federal
the tax authority if the tax agency has reason to believe that the less
or administrative error has occurred which may have resulted in
incorrect or incomplete information has been reported from
United States, or that has resulted in other violations of the
FATCA agreement.
If the federal tax authority informs
The tax agency that the authority has reason to believe that the less
or administrative error has occurred which may have resulted in
incorrect or incomplete information has been reported from
Sweden or that has resulted in other violations of the
Fatca tax agency agreement, shall take the measures
possible under Swedish law to obtain accurate
and complete information or to remedy
violations of the agreement.
Material violation
section 4 of the Swedish tax agency shall inform the Federal
the tax authority if the tax agency has found that a
such a reporting obligation American financial institution
referred to in the FATCA agreement has committed a substantial
violation of obligations of FATCA.
If the federal tax authority informs
The tax agency that such a reporting obligation
financial institution as described in Chapter 2. section 19 of the Act (2015:62)
on the identification of reportable accounts with
reason of FATCA agreement has committed a substantial
breach of obligations under FATCA agreement, shall
The Swedish tax authorities take the measures possible under Swedish
legislation to address the substantial infringement.
Use of information provided by the Swedish tax agency receives
§ 5 information provided by the Swedish tax agency receives from the
Federal tax authorities within the framework of the
automatic exchange of information as referred to in the FATCA agreement may
be used only for taxation purposes and only in the case of
the taxes covered by the Act (1994:1617) if
double taxation treaties between Sweden and the United
States.
Transitional provisions
2015:63
1. this law shall enter into force on 1 april 2015.
2. The tax agency shall assess whether the United States has the appropriate
security provisions in place to ensure that
information received will remain confidential
and exclusively used for taxation purposes, and a
infrastructure for an effective exchange of information.
The tax office will notify the US Federal
the tax when the tax agency assessed that such
safety rules and such an infrastructure is on
place.
3. the provisions of paragraph 2 shall apply as from the date on which the
The tax agency will leave such a message to the U.S.
Federal tax authorities referred to in point 2.