When choosing a country to headquarter their business, one of the first criteria that entrepreneurs look at is taxes. If a country’s tax code is too confusing, or if the taxes are too high, entrepreneurs will look elsewhere on the map to launch their venture.
While Sweden has been making headlines lately for other reasons, it should be garnering more attention for its recent tax strategies to incentivize entrepreneurship in recycling, reuse, and repair industries. These tax strategies are designed to minimize imports, stimulate local hiring, and preserve the environment.
Sweden is often considered to be a high tax and high cost-of-living country. However, entrepreneurs skilled in repair and recycling may want to give it a closer look.
Check out the World Economic Forum’s video for more details:
Cover photo: “Maltese Ground Fireworks” © Tricia A. Mitchell