Taxation In Sweden

The following is copied from Wikipedia's link to 'Taxation in Sweden'. Seems many liberal lefties in the US feel the Swedish system of cradle to grave is admirable and would be wonderful here. Read on....I think you may feel differently after reading the example.
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Taxation in Sweden may involve payments to three different levels of government: the municipality, the county council, and the central government. The payments are collected by the Swedish Tax Agency (Skatteverket). In addition the Swedish Tax Agency collects a church tax from members of the Church of Sweden. The tax rates in Sweden are commonly cited as among the highest in the world.

Sweden has a taxation system that combines a direct tax (paid by the employee) with an indirect tax (paid by the employer). In practice, the employer provides the state with both means of taxation, but the employee only sees the direct tax on his declaration form. The compilation of taxes that compose the final income tax (2009): tax on gross income from the employer: 31.42% (indirect, fixed), pension fee on gross income: 7.00% (indirect, fixed), municipal tax on gross income less pension tax and a base deduction: ~32% (direct, varies by municipality), state tax on gross income less pension tax and a base deduction: 0%, 20%, or 25% (direct, progressive)[1]. In addition, an earned income tax credit applies for gross income, effectively reducing mean income tax.

Although the pension fee is stated as 7.00%, it is effectively cancelled out through an income tax credit for the entire pension fee sum assessed. Pension fees may not exceed 28800 kr/year.

[edit] Example

(Assumptions: Income tax (Direct - 32%), Employer social fee (indirect - 31.42%))

From a pay of "100", the Employer first pays "32" in Income tax (direct - 32%), on top of that the Employer also pays an additional "31.42" in Employers social fees (indirect - 31.42%).

Thus, from a pay check of "100", 63.42/131.42 (i.e. 48.3%) is paid as income taxes. This effective rate may be lowered by for example earned income tax credits and private retirement savings contributions.

[edit] Value Added Tax

The value added tax (mervärdesskatt or moms) rate in Sweden is 25%, with exceptions for food and services like hotel room rental fees (12%), and for sales of publications, admission tickets to cultural events and travel within Sweden (6%)[2].

[edit] References

1. ^ ''Belopp och procent - inkomstår 2009/taxeringsår 2010, Swedish Tax Agency (in Swedish)
2. ^ ''Momsbroschyren (SKV 552), Swedish Tax Agency (in Swedish)

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