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Sweden plans to cut its Corporate Tax Rate

The Swedish government plans to lower corporate taxes in two stages from 22% down to 20.6%. The rate is to fall to 21.4 percent from Jan. 1, 2018 and to 20.6 percent in 2021, Finance Minister Magdalena Andersson said on Wednesday.

At the same time, the intention is to take measures against aggressive tax planning and make the tax system more transparent. This will involve new rules on deductible interest payments which have been quite generous so far. The proposal includes restrictions for deductible interest payments in certain cross-border situations (hybrid rules) as well as restrictions for deductible interest in certain internal loans. New rules on financial leasing agreements are also to be expected.

The original plan was to reduce the corporate tax rate to 20% (the prevailing rate in Finland).

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High Nordic rankings in ease of doing business

The Nordic countries ranked high in the world for doing business by the World Bank’s annual Doing Business 2016 report.

Surveying a total of 189 countries, the list is widely considered the most authoritative in the world.

The index takes into account regulations that affect facilitating the smooth flow of business. A total of 10 different areas were assessed, included everything from starting a business, to dealing with construction permits, getting credit, paying taxes, trading across borders and enforcing contracts.

Denmark ranked third, Sweden, Norway and Finland as eight, ninth and tenth. repectively

Singapore once again topped the list this year, followed by New Zealand.

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