Swedish government to cut corporate tax to 20.6% from 22%

[STOCKHOLM] Sweden's centre-left government said on Wednesday it will cut the country's corporate tax to 20.6 per cent in 2021 from 22 per cent today in a bid to improve conditions for business in the Nordic country.

"This will benefit small- and medium-sized businesses, where much of the new jobs will be generated," finance minister Magdalena Andersson told reporters.

The corporate tax will be lowered in two steps, with the first cut to come into effect on Jan 1 next year.

Andersson also said the government will limit interest deductions for companies in order to make it harder for companies to avoid taxation.

REUTERS