How will my investments with Lysa be taxed?
The funds in your portfolio are Swedish investment funds and are held on a Swedish investment account. However, your fund holdings will be taxed in the same way as Finnish investment funds. This means that your fund holdings with Lysa will be taxed when a fund unit is sold. When a fund unit is sold it results in either a capital gain or a capital loss. The calculation is generally made by subtracting the purchase price from the selling price. When calculating capital gains/losses, the so-called “First in - First out principle” (FIFO principle) is applied which means that the fund units are considered sold in the same order as you bought them.
Please note that the following transactions are seen as a sale of fund units and may materialise either a taxable capital gain or a capital loss: when you make a withdrawal from your Lysa account, when you make an adjustment of the allocation between stocks and bonds in your portfolio and when Lysa automatically rebalances your portfolio within our discretionary mandate. In addition, Lysa will charge its portfolio management fee by selling fund units at a value corresponding to the fee every sixth month and these transactions may also materialise a taxable gain or a capital loss.
Capital gains are taxed as capital income. For income year 2023, the tax rate on your total capital income (i.e. not only capital gains from your holdings with Lysa) is 30% up to 30,000 euro and the tax rate on capital income exceeding 30,000 euro is 34%. Capital losses can generally be deducted from the total of your capital income.
Please visit the Finnish Tax Agency’s website for more information.
Will Lysa report tax-related information about my investments to the Finnish Tax Agency (Vero)?
Yes. Lysa will report information about your fund holdings and the transactions you make throughout the year to the Finnish Tax Agency. Consequently, all relevant information about your investments with Lysa will be included in your pre-filled tax return. However, always remember that it is your responsibility to make sure that your tax return is correct and complete, and that you are obliged to correct any inaccuracies (including inaccuracies in the information reported by Lysa).
Do I have to pay tax in Sweden?
No. If you are not a tax resident in Sweden, you will not pay any tax in Sweden.
Please note that this information is provided as general information and should not be considered as tax advice. Always remember that your individual circumstances might affect your tax situation and that the tax rules may be subject to changes in the future. If you are in any doubt about your tax situation contact the Finnish Tax Agency. You will find their contact details here.