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Sweden Should Rein In Mortgage Tax Incentives: IMF

by Ulrika Lomas, Tax-News.com, Brussels

29 September 2017


Sweden should focus on removing tax incentives for home ownership and debt, the International Monetary Fund has said.

The IMF said: "To promote more efficient use of space, the composition of property taxation should be shifted by cutting capital gains taxes that deter sales while raising the recurrent property tax, which in 2008 was capped at a level among the lowest in OECD."

It added that if authorities decide not to raise property tax, Sweden should reduce the amount of mortgage interest that can be offset against tax liabilities "to ease demand and discourage high leverage."

"The macroeconomic impact would be modest while interest rates are low and such reforms could be part of a broader package that also benefits households," it said.

On September 18, the Swedish Government announced a number of tax measures in the Budget for 2018, including new rules for employee stock options and corporate interest deductions.

TAGS: tax | property tax | tax incentives | interest | Sweden

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