Main page > About the company > News and mailing > Jurisdictions news > Sweden plans to introduce a tax for banks on defense against the Russian Federation

Sweden plans to introduce a tax for banks on defense against the Russian Federation


				04.09.2019
						The Swedish government plans to introduce a new tax in the financial industry in order to increase defense spending to counter Russia's buildup of military power in the Baltic Sea. This was announced by Minister Magdalena Anderson in the interview with Bloomberg.

This proposal is another attempt by the ruling party of the Social Democrats to force the financial industry to make a greater contribution to the state treasury. The party’s previous attempts to raise bank taxes have failed following a clash with EU competition rules and the possibility of putting Swedish companies at a competitive disadvantage.

Anderson noted that banks pose a risk to the country's economy, and they may also need help from the state in cases of financial crisis, so it would be logical to tax them to compensate for possible costs.

The Swedish Bankers Association, criticizing the proposal, said that banks already pay fairly high fees to allow the state to cope with financial crises.

The tax is planned to be introduced by 2022.

On materials of the following website: https://www.bloomberg.com/news/articles/2019-08-31/swedish-banks-to-foot-the-bill-as-russia-prompts-...

Back to the list news

Quickly and confidentially.
A qualified expert will give you a free consultation by telephone, help to determine the position and make an appointment at any time that suits you.
Call just now by phone: +44 203 608 22 48
E-mail us: london@hbcomp.co.uk


News

10/03/2019 20:30:00

New rules of tax residency in Russia

The Ministry of Finance of the Russian Federation has suggested to ...

Read more

10/01/2019 16:43:00

Negative rates in foreign currency deposits in the Russian Federation

Central Bank of Russia got an offer to introduce negative rates on ...

Read more

09/25/2019 22:40:00

Ukrainian authorities reduce pressure on business

On September 18th, 2019, the Verkhovna Rada of Ukraine adopted the ...

Read more