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Sweden Proposes Income Tax Cuts Ahead of Budget Bill for 2024

03 May 2023

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Proposed Changes

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Sweden

The Swedish Ministry of Finance has issued proposals for a tax cut on earned income and pension income ahead of the budget bill for 2024. The proposed tax cut on earned income would be achieved through an increase in ordinary employment tax credit and the so-called employment tax credit for the elderly by a total of SEK 8.7 billion. The tax cut is primarily aimed at full-time workers with low and medium incomes. On average, tax would be reduced by about SEK 1,900 per year for those who are covered by the regular employment tax credit and about SEK 1,000...