Billionaires are favored – "don't want to scare them off"

Minister of Finance Elisabeth Svantesson (The Moderate Party) is now commenting on the inquiry set up by the government, which may benefit the country's venture capitalists. I do not want to scare capital away from Sweden, she says.

» Updated: October 01 2024

» Published: August 27 2024

Billionaires are favored – "don't want to scare them off"
Photo: Lars Schröder/TT

The Tax Agency has, over many years, reassessed and disputed with the country's richest venture capitalists. Now, the government has quietly set up an inquiry that should please the protesting billionaires.

According to Svenska Dagbladet, the assignment is clear – the directives cater to the venture capital industry and focus on achieving "taxation equivalent to that applicable to income from holding qualified shares in closely held companies".

The aim is to have predictable rules. For many, many years, they have not been, says Elisabeth Svantesson at a meeting with journalists in the Riksdag.

When asked if the purpose of the inquiry is to give venture capitalists lower taxes, she responds:

It should not be worse. The regulatory framework should be predictable, which it is not today.

The tax disputes concern whether the profit share made by venture capitalists should be taxed as labor income or capital gains.

Last spring, the Tax Agency reassessed 67 venture capitalists with 1.6 billion kronor.

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By TTThis article has been altered and translated by Sweden Herald

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