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Out of curiosity I researched this a little. Sweden abandoned the wealth tax in 2007. However, the neighboring Norway has a 1.1% combined wealth tax on income
by drx 15y ago
Out of curiosity I researched this a little. Sweden abandoned the wealth tax in 2007.
However, the neighboring Norway has a 1.1% combined wealth tax on income above about $350k. And according to [1] "from the income year 2008 the full market value of shares reg- istered on the stock exchange are in the shareholder’s wealth, whereas unlisted shares are valued based on the company’s taxable wealth".
Other countries that have the wealth tax are France, Switzerland, Liechtenstein, Netherlands and India. Some of them have limits on the wealth tax in place, e.g. in France the amount cannot exceed 50% of annual revenues.
[1] http://www.kpmg.no/arch/_img/9585751.pdf http://www.kpmg.no/arch/_img/9585751.pdf
- pg 15y agoI realize this isn't your fault, but KPMG's explanation is pretty question-begging. Anyone happen to know how the "taxable wealth" of a startup would be calculated?
- drx 15y ago"10.02 - Business taxes" at the Official Statistics Office of Norway: http://www.ssb.no/metadata/conceptvariable/vardok/1441/en http://www.ssb.no/metadata/conceptvariable/vardok/1441/en "Taxable wealth is the value of the company's assets reduced by debt, as of 1 January in the assessment year." This doesn't necessarily mean that the same definition applies at the tax office and/or that it applies to startups, though.
- mbesto 15y agopg- If you're interested in tax laws for startups in Sweden, let me know. I have a good friend who is in the process of IPO'n his startup and is very "money conscious".