March 21, 2018 / 11:45 AM / 6 months ago

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

STOCKHOLM, March 21 (Reuters) - Sweden’s centre-left government said on Wednesday it will cut the country’s corporate tax to 20.6 percent in 2021 from 22 percent 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.

Reporting by Stockholm Newsroom; editing by Niklas Pollard

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