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Tax cut proposal for Stockholm

Thursday, 11 October 2012
Stockholm political establishment has requested that taxes in the micro city be cut, apparently in the bid to stimulate economic activities as recession toughens.

The Conservative Moderates party, which is the majority in the City's council, of the Stockholm assembly has proposed to lower taxes by 15 percents next year. This means that Stockholmers will get a couple hundred items of krona per year, in their wallet.

The capital's municipal net expenditure will grow by 3.6 percent to nearly Skr37 billion next year, according to the party's fresh budget.

But the growing nature of the city makes it that the city of Stockholm can reduce taxes by Skr 0.15 and still increase tax revenue by 5.6 percent in 2013.
"Never in modern times have there been so many and has grown so rapidly than now," writes Sten Nordin in the budget, adding that Stockholm will soon be a metropolis.

In early 2012 the City of Stockholm had 870,000 inhabitants. The tax reduction makes Stockholmers with a monthly income of Skr20,000 save Skr20 more after-tax, or Skr240 per year, according to Swedbank Institute of personal finance.

For monthly income for those with Skr30,000, will see a reduction of Skr360 more per year after tax. For people with a monthly salary of Skr40,000 and Skr50,000 their take will be Skr600 and Skr840 more per year.
Scancomark.com Team

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