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Sweden's Competition Commission Opposes FTT

by Ulrika Lomas, Tax-News.com, Brussels

09 February 2017


Sweden's competition authority has warned that proposals for a financial activities tax would place the country's financial services sector at a competitive disadvantage.

The competition authority published an opinion against the tax on its website on January 30.

It noted that the proposals are being put forward as the financial sector is not subject to value-added tax.

It cautioned that the measure could lead to distortions in competition between large and small financial services companies in Sweden. It is also concerned that the tax could increase the administrative burden on companies and the financial cost could be passed onto consumers in the form of higher prices.

It recommended that Sweden consider introducing the measure only if such is agreed at EU level.

TAGS: tax | value added tax (VAT) | financial services | Sweden | services | Tax | Financial Transactions Tax (FTT)

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