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Sweden Reduces Corporate Tax Rate; Announces Tax Deductions for Investors
The Swedish government has planned to slash the corporate income rate to 22% from the existing 26.3%.
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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