Cable TV giant pays no tax

Published söndag 18 november 2012 kl 14.14
Com Hem. Photo: Hasse Holmberg/Scanpix

Sweden's largest cable-tv company does not pay any tax in this country, despite profits of over SEK two billion each year, according to news agency TT.

Eight hundred thousand Swedish households get their tv, broadband or Ip-telephones from Com Hem, and it is one of this country's most profitable companies, but much of the money goes to pay off interest on debts incurred by its current owners, risk capital company BC Partners, when it bought the company.

According to Com Hem's CEO Tomas Franzén the Swedish tax authorities cannot expect any tax revenue in the upcoming years either. He tells TT that of the annual profits of SEK two billion, one billion goes to pay off the loan interest, and the other billion is spent on upgrading the company's cable infrastructure.