The Swedish Tax Agency had accused Ulvaeus of neglecting to pay taxes on royalties for much of ABBA's song catalog. However, Stockholm's County Administrative Court has ruled in favor of the performer, The Local reported.

In addition to not being penalized, Ulvaeus also gets to keep the $12 million the agency claimed he owed in taxes, interest and charges, the newspaper said.

"I am, of course, very happy to have it down in black and white that I always went about things the right way with my original tax payments, while the tax agency was on completely the wrong track," Ulvaeus told the business magazine Privata Affarer.