TechFlow news: A Swedish cryptocurrency mining company has been found to have evaded more than $90 million in taxes over the past four years following a government investigation.
The Swedish Tax Agency investigated the operations of 21 cryptocurrency mining companies and discovered that 18 of them provided "misleading or incomplete" information to obtain tax benefits.
These companies avoided paying value-added tax by providing misleading business descriptions, or found other ways to evade import and income taxes.
The non-compliant cryptocurrency mining companies are now required to pay over 990 million Swedish kronor (approximately $90 million) in back taxes to the tax authority.
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