Scandinavia is known for high taxes and people being happy. Yet Sweden has a corporate tax rate of just 22 percent. Denmark's corporate income tax rate is 24.5 percent, Norway's general corporate income tax rate is 27 percent. It seems that the corporate tax rate was once much higher (60% in the 1980s) but then they discovered that companies didn't invest and took their money elsewhere. So to attract that money back they dropped the company tax - a lot. Is that a lesson for Australia? (Yes yes we know it's 'complicated')
The Corporate Tax Rate in Sweden stands at 22 percent. Corporate Tax Rate in Sweden averaged 35.36 percent from 1981 until 2016, reaching an all time high of 60.10 percent in 1989 and a record low of 22.00 percent in 2013. In Sweden, the Corporate Income tax rate is a tax collected from companies. I...
Thanks to Michael McCormack, the Small Business Minister, for listening to COSBOA and expanding the New Enterprise Incentive Scheme (NEIS). This is a win for the small business community and is something we called for in our Budget submission! We will continue to work with the government to improve NEIS.