Sweden will try to assist companies that aim to repair products by exempting those services from the Value Added Tax (VAT). If legislation submitted recently by the Social Democrat and Green party coalition is enacted, the tax will be cut to 12% from 25% under the proposal.
“We believe that this could substantially lower the cost and so make it more rational economic behaviour to repair your goods,” said Per Bolund, Sweden’s minister for financial markets and consumer affairs and one of six Green party cabinet members.
Bolund estimates that the proposal will reduce the cost of a $45.00 repair by about $5.50 enough to stimulate the repair industry in Sweden. The tax breaks can stimulate new businesses and jobs in repairing bicycles, appliances, clothing and shoes.
Read the full story here from The Guardian, September 19, 2016
