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Taxes are the largest expense for Swedes

by Jacob Arfwedson

Swedbank has calculated what Swedes already knew: taxes are by far the largest budget item for any household. An individual earning SEK 25,000 per month pays SEK 17,500 in taxes (of which SEK 6,100 to the municipality, SEK 4,300 in pension dues, SEK 3,380 to the health care authority and SEK 3,360 to the central government).

On Tax Freedom Day (this year on 19 July) the Swedish Taxpayers’ Association released a report showing that an individual earning SEK 327,600 (€ 37,700) pays payroll, income and indirect taxes corresponding to 54.3 per cent of the total income.

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