In addition to a proposal for an exit tax, the government is planning an extensive tax reform, which is sending a shiver down the spines of business leaders.
The government memorandum, which has been circulated for comment, includes a proposal to limit interest rate deductions for companies. Richard Hellenius, tax expert at the Confederation of Swedish Enterprise (Svenskt Näringsliv), says that more than 80 of the 87 responses to the memorandum were highly critical of the proposal, agreeing that it would have socio-economic consequences.
Although the Confederation is positive to a proposal to cut the corporate tax rate to 20% from 22%, it does not believe that this will compensate the problems associated with the interest rate deductions and warns that Sweden’s international competitiveness will be damaged.
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