Sweden?s corporate taxes ?above average?

Swedish corporate tax rates, long regarded as being some of the lowest in the European Union (EU), are now above average for the 25 member bloc.

A new survey by accountants KMPG shows that Sweden’s corporate tax rates are higher than in many of the new EU member states.

“With EU enlargement in 2004 bringing ten new member states in to the EU, we are now clearly higher than average,” said Per Snellman, who conducted the KMPG Corporate Tax Rate Survey.

Sweden’s corporate tax remains unchanged at 28 percent, putting it above the EU average of 25.04 percent. Low corporate taxes are frequently cited by Swedish ministers as evidence that Sweden has a business-friendly environment, despite strict labour laws and high personal taxes.

The average corporate tax in the OECD is 28.21 percent.

TT/The Local