Sifa objects to tax changes on savings accounts

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The Swedish Investment Fund Association (Fondbolagens förening) has objected to proposals to change the effective flat tax rate applied to the country’s tax efficient investment savings account wrapper regime known as Investeringssparkonto.

This type of investment savings account was introduced to facilitate savings, including through collective investments, which are held within the wrapper. According to proposals put out for consultation by the government, addressing tax issues in the 2016 budget, the tax rate would be raised.

However, the Association argues that the proposal would make calculations of the effective tax rate more complicated, which in itself would undermine one of the advantages of the regime – that it offers a simple way to access tax efficient long term savings.

Additionally, the Association argues, the impact of the tax may be less or more depending on the prevailing interest rate level.

ABOUT THE AUTHOR
Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 16 years he has been based in London writing about funds and investments . From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope.

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