Benefit of interest free and low-yield loans
If an employer or client provided an employee or contractor in favor of interest-free loans or loans where the interest rate below market rate, the employee or contractor is taxed on the value of the benefit as income of the service.
With loans from employers or clients are treated another loan if there is reason to believe that the employer or principal conveyed the. While loans may be considered to be related to previous employment or assignment treated as loans from employer or client.
With the loans in this context refers to a monetary transaction based on a credit agreement. This means that neither advances on salary or commission compensation, or normal credit card purchases with an employer or client should be treated as such. On the other hand, benefit from both short-term loans and loans of small amounts of the rules (jfr prop. 1981/82:197 with. 60). As loans are considered in this context of loan made in violation of company law, sk. prohibited loans.
Preferential taxation assumes that the loan agreement at the time was a benefit and that benefit was obtained as a result of service or mission. In the case of employers who in his regular business offers loans to the public arising from a taxable fringe benefit if employees are offered loans at more favorable terms than those which the public is. For other employers, that do not perform credit, a comparison with the market conditions for credit agreements in force at the time (prop. 1990/91:54 with. 303).
Of critical importance in assessing the conditions of the loan, ie. if the loan has been provided on terms more favorable than the prevailing market. This applies not only to interest rate conditions but also other conditions. The comparison is made at the time of the loan between the contracted interest rate and market rate for comparable loans. Changed conditions at a later date is considered a new credit agreement have been concluded and a new assessment must be made in favor of the question.
In conjunction with the soft loan, other benefits than fixed conditions affect the taxation under income from services. As an example, mentioned that, when a decline in interest rates allows the employee to prematurely redeem a tied loan or during the term lowers. This benefit corresponds to the case, the cost to the lender at market rates charged (prop. 1992/93:127 with. 41).
| EUR | euro | 3,66 % |
| GBP | British pound | 4,20 % |
| CHF | schweiziska francs | 2,79 % |
| JPY | Japanese Yen | 1,92 % |
| DKK | Danish kroner | 4,67 % |
| NOK | NOK | 4,42 % |
| CAD | Canadian dollar | 3,44 % |
| AUD | Australian dollars | 4,87 % |
| USD | U.S. dollars | 2,92 % |
Fixed rate loans m.m.
For fixed rate loans, interest-free loans or loans with variable interest rate which shall be paid in fixed relationship to the market, estimated benefit value of the difference between SLR at the time of the loan plus one percentage point and at the same time agreed rate of interest. The estimated benefit value for the duration of the loan period with unchanged terms.
It may happen that a loan is a good time, because the agreed interest rate is below market rate, but where no tax value does not arise because the benchmark interest rate to fall below the agreed interest rate. In such cases, nor any subsequent tax value to be applied, unless its conditions are changed so that a new agreement is deemed to exist (prop. 1992/93:127 s. 56).
With the loan with a fixed interest rate loans provided by runs with a predetermined interest rate throughout the loan period (loan villkorstid). As an example may be a five-year combined mortgage where the interest rate for the entire five year period is described as such. 3,50 %. This includes interest-free loans. This group also includes loans where the interest rate is determined in a fixed relationship to the market. with the provided example. that the interest rate during a specified period to be paid at a rate that at any moment, is one percentage point below the market rate for the type of loan terms (Board Bill. with. 55—56).
Have fixed rate loans m.m. taken before 5 december 1986, ie. before the SLR was introduced as fixed term, as compared to interest rather than apply it at the time of the loan current market rate for loans of the same type as the basis for SLR plus one percentage point.
Other loans
For other loans, ie. variable-rate loans that should not be valued in accordance 15 §, valuation is done as a 'rule of 61 Chapter. 16 § THE. This value is calculated as the difference between SLR by the end of November of the year preceding the tax year with the addition of a percentage point and the agreed interest rate for the tax year.
In § 16 second paragraph states that the recent interest rate changes occurred in some cases be considered. Has SLR by the end of May during the tax year changed - up or down - at least two percentage points compared to the situation existing at the end of November the year before the tax year, the benefit value for the period July – December tax year, calculated as the difference between SLR by the end of May the tax year with the addition of a percentage point and the agreed interest rate.
At the end of November 2009 was the SLR 3,20 %. For fiscal year 2010 (all or part of, see above) the benefit value thus calculated as the difference between 4,20 % and the agreed interest rate.
Valuation of favorable foreign currency loans
In the case of foreign currency loans to the taxable benefit is calculated on the same valuation rules for loans in Swedish krona with the modification that the benchmark interest rate, instead of SLR with the addition of a percentage point, should be the market rate for loans in the relevant currency plus a percentage.
With market interest rate means the interest rate paid on risk-free long-term investments, ie. the rate that most closely matches SLR (prop. 1990/91:54 with. 304).
For a loan shall be deemed included in foreign currency should the borrower (the employee) stand the s.k. currency risk.
The Tax Agency (IN A 2008:32) states
“In calculating the tax value for favorable foreign currency loans, which have variable interest rates, , the following comparative rates (market rate at the end of November 2008 plus and procentenhet) applied for the full fiscal year 2009, unless interest rates at the end of May during the tax year to the contrary.
Deductions for interest expense
An amount equal to interest-rate benefit amount shall be paid as interest expense. This means that the amount taxed and actually paid interest is deductible as income from capital. The right to deduct arises for the year in which tax liability arises.