Bolund defends tax on chemicals

Sweden’s consumer electronics industry is in uproar over the news that the tax on chemicals, which will take effect on 1 July 2017, will only be levied on Swedish firms. Foreign online vendors selling goods to Swedish consumers will not be liable to the tax.

The Swedish trade association Elektronikbranschen is concerned over the amount of administration the tax will require, as well as the extra cost to consumers, saying the tax will distort the market.

Nevertheless, Financial Markets Minister Per Bolund (Green) defends the tax, saying if is “a tool to reduce the use of hazardous chemicals”.

Minister on warpath

Financial Markets Minister Per Bolund (Green) tells Svenska Dagbladet that the Swedish Financial Supervisory Authority (Finansinspektionen) will be given greater powers to stop those fund companies that charge high commissions for poorly performing funds. “They have no place on the Swedish market,” he says.