Sweden Proposes Domestic Tax Changes in 2013 Budget: International Tax Services Team of Nair & Co. (Sunnyvale, CA) - The Swedish Ministry of Finance has circulated a memorandum seeking consultation on the proposed domestic tax changes in the 2013 budget bill. The proposed measures, once approved, may take effect from January 1, 2014 and will retrospectively apply to the tax years commencing post December 31, 2013. Proposed Domestic Tax Changes:
The “3.12 rules”, which apply to closely held companies and disallow taxpayers from converting taxed individual incomes into capital gains, will be revised.
Tax liability regulatory framework will be simplified for business premise rentals and an optional excise tax will be allowed replacing the property owner’s invoice which includes VAT. Environmentally-friendly company cars will be offered benefits for 3 years.
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