Handelsbanken has a conservative view towards tax risks and disassociates itself from any participation in tax evasion on its own account or on behalf of another party. Good ethical standards must always be taken into consideration when providing products and services or performing transactions. These standards are explained in greater detail in Handelsbanken’s Ethical Standards policy as well as in the Sustainability policy. These policies state that the Bank must not participate in transactions or provide products that may be called into question in the light of prevailing tax regulations. In practice this means the following:
Internal and external transactions carried out by the Bank within its own operations must always have a genuine business purpose and must not be carried out when the only, or one of the main, purposes is to obtain tax advantages in conflict with the objective of the tax regulations.
Services and products provided by the Bank must always have a genuine business purpose or personal financial objective, and the Bank must not provide products or services where the only, or one of the main purposes, is to obtain tax advantages in conflict with the objective of the tax regulations.
Further, the Bank must not – directly or indirectly - participate in transactions, through granting credit or otherwise with respect to customers, which constitute a step in tax evasion or in artificial transactions without a genuine business purpose, when the only, or one of the main, purposes is to obtain tax advantages in conflict with the objective of the tax regulations. If there is any doubt, the Bank must refrain from participating.