tirsdag den 28. februar 2017

The strange case of the Swedish taxpayer

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DAILY BULLETIN
Tuesday 28 February 2017
The strange case of the Swedish taxpayer
by Filipe R Costa | Economics | 5 mins. to read
Sweden

In general, taxpayers try to minimise their contributions to the government budget, either by optimising their tax rate or through trying to delay payments wherever they can. But something strange seems to be happening in Sweden. The country seems to have been gripped by some form of mania that has led the taxpayer to overpay on his financial obligations to the government.

In 2016, instead of generating a budget surplus of Skr.45bn (£4.0bn), the Swedish government accumulated Skr.85bn (£7.5bn) as businesses and individuals paid Skr.40bn (£3.5bn) in excess taxes. Consequently, the government no longer needs to tap markets to finance its expenses, as it is instead being financed by the taxpayer. How generous! While excess payments must, at some point, be returned to the taxpayers, the money is available for the government to spend it elsewhere for some time.

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