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Political Economy


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How the Swedish government policy created an inflow of wealth that was previously hidden abroad

Monday, 18 February 2013
Swedish wealthy people have started bringing back their wealth to Sweden after the government, in recent policies made it clear that it will not prosecute or force people to pay retrospective property taxes on them when they are brought back to the country.

Last year in January, only 162 individuals, and the years before its was 122 cases who reported to he government that hey were repatriating how their assets from aboard. Only in January this years, 268 letters where received by the Swedish tax authority from people willing to voluntarily bring back their hidden assets back to the country, reports Swedish television

"I'm very surprised that there are so many," says Goran Haglund of the Swedish tax authority to Swedish television new program Agenda.

In this respect, Swedes hiding money abroad are encourages to bring home their hidden wealth without risking a tax on them. The effect is that now billions is flowing back to Sweden.

Despite all this, some authorities believe that there is still a certain amount of nervousness among some people and they will not say anything about their own wealth hidden somewhere in the world.
By Scancomark.com Team

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