My reluctance to pay taxes is increasing all the time

Today was the time for yet another payment of the capital tax on our endowment insurances with Nordea.

The capital tax is based on an ascribed income which is the government loan interest plus 1 percentage point. The ascribed income is then taxed at 30%.

This ascribed income increases or decreases to the same extent as the Swedish central bank AKA Riksbanken changes the policy rate. Even if capital tax has increased at the same rate as Riksbanken has raised the policy rate, it is still more advantageous for us to have endowment insurance compared to a securities account.

Apart from the fact that endowment insurance entitles us to reclaim the foreign withholding tax, the ascribed income is still lower for us than the capital tax would be for us in a securities account.