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February 14, 2012
'Sweden is a tax paradise': Ikea adviser
Published: 1 Mar 10 17:00 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/25286/20100301/
A leading figure behind both Ikea and Tetra Pak's decisions to move their headquarter beyond Sweden's borders has said Sweden is making major strides on the road to becoming a more business-friendly nation.
- Ikea affirms bid to ditch Swedish food brands (24 Jan 12)
- Ikea puts India expansion plans on ice (23 Jan 12)
- Ikea assembles record profits for 2011 (20 Jan 12)
But writing in a newsletter ahead of the Transfer of Ownership in Private Businesses conference, to be held in Stockholm at the end of March, Grosskopf claims the companies would have remained on home turf had today's tax system been in place at the time.
By abolishing inheritance tax, gift tax and wealth tax, Sweden has become attractive to business owners who previously struggled to build up private savings outside of their companies, he claimed
"It's very important for Sweden and is a fantastically positive development. Sweden is a tax paradise if you set aside income tax. Businesspeople think this is great," said Grosskopf.
There are however two barriers preventing Sweden from reaching its full potential, according to the Switzerland-based businessman.
"Firstly, a lack of confidence that the reforms will remain in place and, secondly, the fact that Sweden still has both direct and indirect income tax on employment," he said.
Grosskopf said that both Ikea and Rausing family enterprise Tetra Pak would "without a doubt" have stayed in Sweden if today's tax conditions had been in place earlier, and if they could be assured that the tax system would remain stable in the long term.
"Taxation of companies and owners is no longer an argument against Sweden, it is an argument in favour of Sweden, said Grosskopf.
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Companies need to be based in Sweden, not overseas. If they can be helped to come back with some minor legal changes, then that is a good thing. Keeping employment in Sweden is more important than political dogma from left, right or whatever.
The laws on the ground need to be changed radically to favour small to medium sized industry so as to allow more start ups and SME´s to expand. They are the main employers and the next multinationals.
Large companies usually can not grow anymore anyway, so only need conditions that will encourage them to stay.
The SME´s are what the government should be concentrating on. Also hoooking those SME´s up with university engineering, materical science, computing, biotechology and other departments needs to be made a priority. Any hinderance to universities hooking up with locally grown industry needs to be removed.
Companies are always going to push for lower taxes - they do that in every country.
The question is - are you willing to have poorer public services so that the big companies can get richer?
did you miss the volvo sale and the saab closing ? Also did you notice all the great pharma companies that started in Sweden and moved.