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Many don't. Prime example: IKEA's founder, Swedish citizen multi-billionaire Ingvar Kamprad, based his holdings in the Netherlands and Luxembourg and never had to pay Sweden any income or capital gains taxes at all on his billions in income and gains over several decades. And it was all perfectly legal to do so, as it also is in the other Scandinavian and European countries. They don't tax foreign income or capital gains, and they have no such thing as the FATCA law the U.S. has.
As long as he lived in Sweden, he had to pay plenty of taxes, and he had to flee Sweden to avoid the taxes there. Could Sweden tax worldwide income? No. People like Kamprad would simply flee to another tax haven like Delaware or the Cayman Islands.
As long as he lived in Sweden, he had to pay plenty of taxes
False. Placing his holdings in the Netherlands and Luxembourg made all that income tax-free. Sweden's tax reach doesn't extend beyond its border. Neither does any other Scandinavian or European country's tax reach.
FWIW, he's back in Sweden and never had to pay a dime in back taxes.
So how do you know that Sweden has low income inequality? Didnt we agree that it has high income inequality because the rich dont report their income and dont pay taxes?
Could Sweden tax worldwide income? No. People like Kamprad would simply flee to another tax haven like Delaware or the Cayman Islands.
They don't have to flee. They just base their holdings in foreign countries/accounts. Scandinavian and European countries don't tax worldwide income, and they have no such law as FATCA. Their rich avoid taxes, at will. And that WORKS for those countries. They have much less income inequality, and far more and better social and safety net program benefits.
They don't have to flee. They just base their holdings in foreign countries/accounts. Scandinavian and European countries don't tax worldwide income, and they have no such law as FATCA. Their rich avoid taxes, at will. And that WORKS for those countries. They have much less income inequality, and far more and better social and safety net program benefits.
They have to flee, that is why Kamprad fled and it is why his heirs are Swiss citizens. Why are the biggest Swedish tax payers paying tens of millions of dollars per year in taxes, if it is so easy to avoid taxes in Sweden like you claim?
OECD data. And if you don't believe that, why would you want to promote Swedish-style social and safety net programs?
You are the one who dont believe it and claim that Sweden has high income inequality because of all these people who dont pay any taxes according to you. It really isnt as easy to not pay taxes in Sweden as you claim, and I have not seen any credible research to suggest that the so-called "unofficial inequality" in Sweden is sky high, like you claim.
They have to flee, that is why Kamprad fled and it is why his heirs are Swiss citizens.
Kamprad is and has always been a Swedish citizen. He lives in Sweden now. He didn't have to pay a dime in taxes to Sweden on his billions of income because his holdings are based in the Netherlands and Luxembourg.
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Why are the biggest Swedish tax payers paying tens of millions of dollars per year in taxes, if it is so easy to avoid taxes in Sweden like you claim?
They are the ones who have to keep their holdings in Sweden. For example, the plethora of social service providers/contractors.
If taxes on the rich are so high in Sweden, why isn't the income tax the largest source of Swedish tax revenue?
I'll answer that... Sweden's rich can hide income and capital gains in foreign countries, rendering them tax-free.
You are the one who dont believe it and claim that Sweden has high income inequality because of all these people who dont pay any taxes according to you. It really isnt as easy to not pay taxes in Sweden as you claim, and I have not seen any credible research to suggest that the so-called "unofficial inequality" in Sweden is sky high, like you claim.
Per capita Sweden has more billionaires than the U.S. Alone does that say much? No, I think what it says is you can't compare what a country of 10 million does to what a country of 320 million does.
Kamprad is and has always been a Swedish citizen. He lives in Sweden now. He didn't have to pay a dime in taxes to Sweden on his billions of income because his holdings are based in the Netherlands and Luxembourg.
They are the ones who have to keep their holdings in Sweden. For example, the plethora of social service providers/contractors.
If taxes on the rich are so high in Sweden, why isn't the income tax the largest source of Swedish tax revenue?
I'll answer that... Sweden's rich can hide income and capital gains in foreign countries, rendering them tax-free.
Kamprad moved to Switzerland precisely to avoid paying taxes. And if Switzerland wouldnt take him, he would have just moved to Delaware or some other tax haven.
Social service providers? Some of the biggest tax payers in Sweden are dot com millionaires.
Your claim that Sweden is so rich because it is unable to tax worldwide income and that America as the only country would be much richer if it stopped taxing worldwide income is just pure conjecture on your part.
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