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Sweden may impose 15% payroll tax on banks

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Sweden may impose 15% payroll tax on banks

A Swedish government commission is likely to propose anadditional 15% payroll tax on financial institutions in its November report,Reuters reported Oct. 7, citing "a source familiar with the matter."

According to the source, the will be imposed on financialservices exempted from value-added tax, which would cover banks and otherfinancial services firms.

In September, the Swedish Bankers' Association that the new payroll taxcould put about 16,000 jobs at risk.

Norway's right-wing government plans to impose a 5% payrolltax on the local banking industry in 2017, Reuters added, citing a budgetdocument seen by the newswire Oct. 6.