Sweden's Risk Tax Isn't State Aid, EU Commission Says

By Matt Thompson (November 24, 2021, 5:03 PM GMT) -- A Swedish proposal to institute a risk tax on large credit institutions does not amount to an illegal state aid measure despite the claims of the country's banking lobby, the European Commission said Wednesday.

The design of the tax makes it likely that it will affect nine large Swedish financial institutions only and corresponds to raising their corporate income tax rate from 20.6% to around 30%, according to a legal opinion published by the Swedish Bankers' Association. However, the commission said the tax doesn't confer a selective advantage on those it doesn't apply to and doesn't constitute an attempt to circumvent...

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