Sweden Cutting Corporate Tax Rates

From the WSJ today. Sweden, one of the most punitive taxation domiciles in the world, is cutting its corporate tax rates to stay competitive.

"The corporate tax is one of the taxes which large companies really study when they plan to set up business somewhere," says Jan Björklund, leader of the country's Liberal Party, in promoting the tax cut plan. The corporate tax reduction will bring the Swedish rate down to 26.3% from 28%, continuing its fall from a high of 57% in 1987. This means that Swedes will soon have a corporate tax rate one-third lower than the U.S. average of 39.5% (the 35% federal rate plus the state average).

You know our business climate is not good when you can save dramatically on taxes by moving your business to Sweden!