The Budget for 2013 was presented to parliament on 20 September 2012. In the Budget Bill the government proposes the following tax amendments, which will be applicable from 1 January 2013:
Corporate taxation
The Budget Bill proposes a reduction of the corporate income tax rate to 22%, from the current rate of 26.3%, and a reduction of the tax rate on replacement reserves from 26.3% to 22%. The reduced tax rate would apply also to existing reserves. The government also proposes to apply the limitation on interest deductions to all types of loans between affiliated companies.
The Budget also proposes that the current rate of capital gains tax of 30% is to increase to 33%, effective from 5 December 2012. For the fifth successive year, the Minister for Finance has increased the rate of Deposit Interest Retention Tax, this time from 30% to 33%. The exit tax on life assurance policies and investment funds will also increase by 3% to 33%. The new rates will apply from 1 January 2013.
Individual taxation
The budget has also introduced a new tax incentive on investments in small and new start-up companies. A deduction would be available on the income from capital equal to 50% of the acquisition cost, with a maximum of SEK650, 000 per individual in a year. Each company may only receive investments qualifying for the deduction up to a maximum of SEK20 million per year. The measure is to apply from 1 September 2013.
