Sweden Reduces Corporate Tax Rate; Announces Tax Deductions for Investors

PRLog (Press Release) - Nov. 28, 2012 - (Sunnyvale, CA)- The Swedish government has planned to slash the corporate income rate to 22% from the existing 26.3%. The legislation taking effect from January 1, 2013, will be beneficial for companies doing business in Sweden.

In addition, the government has proposed tax deductions for investors in small companies. The deduction will be based on the amount invested in the country by individual investors.

Provisions for tax deductions:

·         Investors who obtain shares in a small company will be eligible for a deduction up to 50% of cost of acquiring such shares.

·         This deduction has a maximum limit of SEK 650,000 per individual per annum that is for a maximum investment of SEK 1.3 million.

However, there are few other conditions that need to be fulfilled to avail this deduction.

This investor-friendly proposal which is expected to take effect from September 1, 2013, will also require clearance from the European Commission.

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