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Swedes hit with massive tax bill

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Swedes hit with massive tax bill
16:04 CET+01:00
Finance Minister Anders Borg is laughing all the way to the state coffers following news that private individuals paid 29 billion kronor more in tax last year than in 2006, according to a new report from Statistics Sweden (SCB).

In all, Swedes handed over 577 billion kronor ($88 billion) of their 2007 income to the guardian of the state funds. This represented an increase of 5.4 percent on figures for 2006.

Most of the total was made up of local government income tax contributions.

Danderyd, a well-heeled suburb on the outskirts of suburb, was the biggest per capita cash cow, with the average income earner taking home 410,700 kronor per year before tax. On the opposite end of the scale, residents of Åsele in northern Sweden earned an average of 156,700 kronor per year.

Companies too shelled out more taxes than the previous year. In 2007, companies and associations paid taxes to the tune of 99 billion kronor, up 8 percent on 2006.

The tax figures coincide with a sharp drop in unemployment during 2007.

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