I am grateful that Sweden has a double taxation agreement with the company's corporate residence, permanent establishment, which entitles us to a foreign tax refund. The foreign tax refund for the current period was refunded to us today on our endowment insurances with Nordea. This settlement means that we get almost as much back in foreign tax refunds as we pay flat tax on our endowment insurances in Sweden.
The capital tax on capital insurance is calculated using a flat tax, which is the government loan interest plus one percentage point, currently it is 3.62%. The standard income must then be taxed at 30%. The Swedish central bank reduction of the policy rate by 25 points means that the flat tax we pay in Sweden falls, albeit marginally.
All tax cuts are welcome, no matter how small.
No comments:
Post a Comment