21 Replies to “Sweden Lowers Its Corporate Taxes”

  1. I don’t think that includes provincial corporate taxes which if memory serves is about 14 %. Many us states have little or no state corp taxes.

  2. I buy a lot of stuff from other provinces – and never have had to pay PST (because I’m in Alberta).
    I heard that BC is seriously considering a harmonized sales tax – which means that I won’t get that “break” like I used to.
    I’m sure that more than zero businesses will relocate from BC to AB because of this.

  4. Erik….don’t worry about the HST in LaLaLand…El Premiero’s carbon tax has already started to head businesses our way in AB! Thanks guys!
    Just WTF is it about politicians of all stripes that they can’t figure out that leaving more money in people’s/coporation’s pockets is a good thing?

  6. Sweden has it right – their corporate tax is low – their personal tax is high – that way you can vote against it every 4 years or so, if you do not like it – have been there and it works – makes the tax suckers pay attention

  9. Just for your INFORMATION. Sweden have a conservative government not a socialist anymore 🙂

  10. Lets see, with the lowering of the GST (Grits Support Topries tax) to 5% there is an estimation of a loss of 15 billion dollars in Federals “black hole” of General Revenues. That is 15 Billion dollars given back to Canadians.
    Iffy wants to raise it back to 7% …. yep a great election attention getter.
    Now, if Harper would just state the truth about GHG/Global Warming that would save billions in a “carbon tax” on everything. It is going to be interesting how they will spin these taxes to us who believe that the carbon is essential to plant life. With the past eight years being cooler than normal, it is hard to convince me that there is a problem – we already won the battle against Global Warming. (I am surpiised that they have not put a carbon tax on soft drinks – carbonated water.)
    Lowering the corporate taxes will defenatly stimulate the economy. If they would drop it 5% then we would be simular to three of the countries, Denmark, Sweden and the Netherlands. Watch the jobs come back to Canada, with production up and more profits in the shareholders pockets, it would be interesting for companies to invest here. It would also increase revenue through income taxes with more people working. (Note: all the Prov. must come on board also for this to work.)

  11. The Harper govt reduced the corporate tax rate from 22.12% to 15% by 2012.
    It has allowed manufacturing to write off capital investments in machinery and equipment using a two-year 50% capital cost allowance on investments before 2009.
    It made an increase in the lifetime capital gains exemption for small business owners from $500,000 to $750,000…the first increase in nearly 20 years.
    It reduced the small business income tax rate from 12% to 11% in 2008.
    That’s in addition to the GST cut, the new tax free savings account for individuals, increasing individual deductible from 9,600 to 10,100 in 2009, new child tax credit of 2,000 per child, the child care allowance of $1,200 per year for children under 6.
    And, in the RESPs, eliminating the $4,000 annual contribution limit (encourages saving), increased limited limit to 50,000 from 42,000.
    The Home Renovation Tax credit..a tax credit of $1,350.
    A focus on providing investment infrastructure loans to develop small businesses.
    The Harper govt has done a great deal. It, unfortunately, doesn’t go on late night shows to talk about how wonderful they are and detail what they do. That means that many Canadians don’t know what’s been done and is being done.

  12. If you want specfics, go to canada business tax dot com, and corporate tax rates. The actual reduction is
    Jan 1 2008, the rate drops from 22.5 to 19.5.
    Jan 1 2009, it goes to 19.
    Jan 1 2010, it goes to 18. The next year, to 16.5, and finally in 2012, to 15.
    The provincial tax rates vary from 4% for small business, to 12 to 16%.

  13. The Home Renovation Tax credit..a tax credit of $1,350.
    A person has to spend $9000, on materials and labour, to get the whole $1350 tax credit but it’s a step in the right direction.
    Everyone who spent anything on materials, new toilet seat, new faucets, lumber for anything, even light bulbs?, should have saved their receipts to get a 15% saving up to a total of $9000 to get the $1350.
    Need a new storage shed?
    Write off 15% under this credit.

  14. Frequently politicians claim to creat jobs….this is about the only way that is possible.
    I have always said that payroll taxes are really punitive fines for employing people.

  15. Hmmm…the only problem in the graph is Ireland. Which is in economic ruin. Granted their “new” economy was/is heavily tied to the US.

  17. The problem in Sweden is the extremely high income taxes, as well as VAT.
    The problem in Candada is too many special interest tax breaks.
    Get rid of all deductions and tax credits, and lower the general tax rates instead. More cost effecive, and less social engineering.

  18. I wouldn’t trust that graph, given that it’s completely wrong about Canada’s corporate tax rate.

  20. Right, I wouldn’t trust that graph also. Does it have Canada at above 30 because it uses the 22.5% plus the provincial?
    And Sweden cut its corporate tax rate from 28 to 26.3%. That is already higher than Canada’s rate before Harper reduced it. It is now, 2009, at 19% in Canada.
    I’d want to know if the data base in the table included state, provincial, municipal taxes, etc or just income.It’s not easy making comparisons.

  21. Concerning the Home Renovation Tax Rebate program, please remember that the Liberals voted against it.
    ET is correct that the accomplishments of the present government mostly go unreported, especially in the MSM. While I am not a blind partisan supporter of the Harper government and in fact remain extremely disappointed in some areas (silence on the CHRC scandals and no real action on the gun registry), to ignore the positive things is dishonest to say the least.

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