New tax rules for Life Policy
From 1 January 2012 new tax rules will be implemented in Sweden for life policies (Kapitalförsäkring). The tax rate is increased from 27 to 30 percent. But despite the tax change the yield tax will be historically low next year, about 0.50%.
In order to counter tax avoidance through the repurchase at year-ends, premiums during the year will also be taxed.
The first time Swedish tax payer will be taxed under the new rules is the income year 2012 (taxation year 2013). On the value statement, you will find an item that forms the basis for calculating tax.
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1 January 2012 |
Today |
| Yield Tax |
30% * Government lending rate |
27 % * Government lending rate |
| Government lending rate |
Government lending rate 30 Nov previous year. Gives a yield tax of 0,50% (2012). |
Avarage Government lending rate previous year. Gives a yield tas of 0,75% (2011). |
Basic for calculation of yield tax
|
Value 1 January plus premiums during the first six months. Plus half the sum of premiums during the last six months of the year. |
Value1 January. |
| Payment of tax amount |
Ancoria will not make surrenders on the policy to pay your tax. You are responsible to declare and pay any yield tax for the Life Policy. |
Ancoria will not make surrenders on the policy to pay your tax. You are responsible to declare and pay any yield tax for the Life Policy. |
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