Sweden MOF Seeks Comments on Draft Amendment to Abolish Upper Limit Individual Income Tax Threshold

The Swedish Ministry of Finance June 19 opened a consultation on a draft amendment to abolish the upper limit individual income tax threshold. The amendment includes measures that would: 1) apply a 20 percent tax rate for all income exceeding 490,700 Swedish kronor (US$52,089); and 2) abolish the additional 5 percent on income exceeding 689,300 kronor (US$73,254). The measures would enter into force on Jan. 1, 2020, and apply to income paid after Dec. 31, 2019. Comments are due Aug. 9. [Sweden, Government Portal, 06/19/19]

Reference:
View Draft Bill No. Fi2019/02421/S1. View Consultation. View Announcement.