New information regarding the Swedish Investment Savings Account (ISkonto)

NB! ISK is sometimes mentioned, but we refer to the account as ISkonto, since the account does not have anything to do with Icelandic Krona (ISK).
 
The Swedish Government introduces the new Investment Savings Account (ISkonto) on January 1st 2012.
The main reason for the introduction of the ISkonto is to make savings simpler and more favourable. ISkonto will make it easier for consumers (individuals, not groups) to save in shares and funds in Sweden.
The Swedish Government considers it important that households build an economic buffer and wishes therefore to encourage savings. It is valuable, especially in economically troublesome times. ISkonto has benefits for consumers saving in shares and funds . The ISkonto also facilitates long-term savings. Tax on ISkonto is low, the consumer will not have to pay tax on individual transactions and lock-in effects are partly avoided.
The regulation for ISkonto means among other things, that a consumer can put shares and funds, but also other financial instruments on an ISkonto.
Tax on assets at the ISkonto is based on an expected average yield, as in a Swedish Capital Insurance or Swedish Pension Insurance.
How to count
The Swedish tax authorities (Skatteverket) will measure the value of all assets at ISkonto at four points in time during the year together with all payments to the ISkonto during the year. The capital amount is one quarter of that sum. The amount will be multiplied with the Swedish Government Borrowing Rate (STL, Statslåneräntan, December 2nd 2011: 1,65%) on November 30th on the year preceding the tax year. The result, i.e. revenue, will be listed as income from capital and taxed at 30%.
The financial Institution providing ISkonto will have to calculate and report the revenue and values above to the Swedish Tax Authorities (Skatteverket).