Figuring out taxes can be time-consuming for companies, Photo: Anders Wiklund & Christine Olsson/Scanpix.
122 hours

Sweden's company tax system faster than in USA

According to a new report, Sweden does well compared to other European countries in effective corporate tax systems, and far better than North America.

Topping the list are countries or regions like the United Arab Emirates, Qatar, Saudi Arabia, Hong Kong, and Singapore.

While Swedish companies on the average have to spend 122 hours a year working out their tax bill, in the UAE it takes just 12 hours. On the other hand, in the United States the same task takes 175 hours.

Among European countries, Sweden finishes in the top third, just behind Finland and Britain, and just ahead of the Netherlands, Denmark, and France, and well ahead of Germany.

The survey was conducted by the accountancy firm PriceWaterhouseCoopers, together with the World Bank. In the study of the tax climate for small and medium-sized companies in 185 countries, Sweden places at 38 globally, and eighth in Europe.

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