Tax Breaks Will Save Print News in Sweden

August 30, 2017 Taxation in Sweeden

NewspaperSTOCKHOLM – Sweden is setting out to combat fake news, by easing taxation on printed newspapers.

On August 29th the Minister of Finance if Sweden Magdalena Andersson announced that the government intends to introduce a new tax break for newspapers.

Currently, newspapers and periodical publications in Sweden are required to pay a tax of 2.5 percent on all advertising revenues exceeding SEK 75 million.

However, the government is now looking to drop the tax entirely.

The government hopes that by dropping the tax, it will help grow the industry and for a greater number of journalists to be trained and employed.

The ultimate goal of the move is to help increase the relevance of real news and journalism, instead of internet-led fake news.

Summarizing the move, a representative of the Ministry of finance has said “Swedish newspapers and journalism are needed more than ever today. And you hear from them that they want this tax removed, so we hope there can be even more investigative reporting if they no longer have to pay it, and perhaps more journalists will be employed.”