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Our approach to tax

SEB plays a significant role in society, contributing to economic growth and prosperity both as an employer and through providing customers with financing and savings solutions, risk management and payment services. In all of this, the subject of taxes and tax governance is relevant and important.

In SEB's business, tax management and tax governance are relevant and important. With operations in more than 20 countries, we acknowledge the changing landscape around tax from both regulators and society and we put strong efforts in securing compliance with applicable tax laws and regulations. We strive to maintain high standards for tax governance, monitoring risks and ensuring tax compliance.

Principles for tax governance

Products and services that are offered by SEB impact the tax situation for the bank and for our customers and must always have business rationale. SEB must not use, encourage or facilitate – nor cooperate with external parties to facilitate – products or services that are in conflict with tax legislation or anti-tax avoidance law.
SEB has policies and procedures in place, and we work actively with risk assessment, frameworks and controls, to ensure compliance with applicable tax laws and regulations related to our business. We are committed to meeting expectations on transparency in respect of our tax management.

We have established a group-wide Tax Policy that underscores the bank's role in society and stresses the importance of having good knowledge of customers and applying sound business logic in all transactions. The Tax Policy is adopted by the Board and is reviewed annually.
Read the Tax Policy (pdf)