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Stats › Active, passive and flows › Who paid the Swedish tax

American institutions paid 68% of the Swedish transaction tax in 1987 and 13% of it by 1990

YearTaxes paid by US institutionsStatutory round trip rateShare of statutory paid
1987136 basis points200 basis points68%
199026 basis points200 basis points13%
19926 basis points100 basis points, halved 1 Jan 1991Not stated

From Frank Russell data reported by Campbell and Froot. The 1990 share of 13% is the authors' own calculation of 26 over 200 and is printed in their text. No significance statistic applies; these are measured payments.

Frank Russell data on United States institutions trading Swedish equities shows taxes actually paid falling from 136 basis points in 1987 to 6 basis points in 1992, against a statutory round trip rate of 200 basis points that did not change until 1991.

136 basis pointsTransaction taxes actually paid by US institutions, 1987
6 basis pointsThe same figure in 1992
68%Share of the statutory rate they paid in 1987
13%Share of the statutory rate they paid in 1990

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