Sweden MOF Issues Memorandum on Bill for Tax-Free Savings in Investment Accounts, Endowment Insurance, PEPPs

The Swedish Ministry of Finance May 30 issued Memorandum No. Fi 2024/01244, on a draft bill to introduce a tax-free basic level for savings in investment savings accounts, endowment insurance, and Pan-European Individual Pension Products (PEPPs). The bill contains provisions announced as proposed for the 2025 budget. The bill includes measures to: 1) introduce a tax-free basic level for savings of up to 300,000 Swedish kronor (US$28,493) in these products; 2) allow individuals with the products a deduction in the type of capital income corresponding to the tax on the total savings in the products; 3) require specific insurers and ...