Taxes - Accounting

Sweden

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Tax Rates | Accounting Rules

Tax Rates

Consumption taxes

Nature of the tax: MOMS (mervärdesskart) - Value Added Tax (VAT).
Tax rate: 25%
Reduced tax rate: Reduced rate of 12%: foodstuffs, hotel services, camp sites and imports of artworks.
Lowest rate of 6%: newspapers, passenger transport services and cultural events.
Other consumption taxes: Tax on energy products, several sorts of stamp duty (the highest is 2% and is applicable to real estate transactions), tax on the sale of shares and securities (30%), vehicle tax (it varies according to the weight of the vehicle and is higher for diesel cars), excise tax (very high, levied on alcohol and tobacco).

Corporate taxes

Tax rate

Corporate tax (alktiebolag)	26.3%
Solidarity tax	5.5%
Property tax (den statliga fastighetsskatten)	Annual tax from 0.2% to 2.2% depending on the seet value

Tax rate for foreign companies: Resident companies are taxed on their global income while foreign companies are taxed on the profits they make in Sweden.
Capital gains taxation: Non tax exempt capital gain tax are included in business income and taxed at 26.3%.
Main allowable deductions and tax credit: There is no professional tax.
Dividends paid to resident companies: with-holding tax of 30% if the shares are registered, giving a right to a tax credit chargeable to income tax according to a specific rate of 30%.
The rate applicable to profits distributed or not is a single rate of 25%; solidarity tax of 5.5% of the tax rate is added i.e. 26.37%.
A reduction of 25% for three years on the taxable total of salaries paid by Swedish companies (or stable establishments in Sweden of foreign companies) to people of other nationalities than Swedish and non-resident in Sweden.
Other corporate taxes: Property taxes: from 0.2 to 2.2% on commercial premises, and industrial properties.

Individual taxes

Tax rate

Individual income tax	It is comprised of two major parts: A municipal tax rate between 28.9% and 34.2% and a national tax rate between 20% and 25%. the combined tax burden is as follows:
From SEK 0 up to SEK 383,000	30%
From SEK 383,000 up to SEK 548,300	50%
Over SEK 548,300	55%
There is a flat tax rate for non-residents.	25%

Allowable deductions and tax credit: Deductions for business travel expenses, rise in cost of living (rise in rent for example).
Special expatriate tax regime: Tax reductions for certain expatriate management personnel (limited duration of 5 years). Flat rate reduction of 25%. This measure is only possible during the first three years of work and is reserved exclusively for people who do not have Swedish nationality.

Double taxation treaties

Countries with whom a double taxation treaty have been signed: Consult the Swedish Tax Department
Withholding taxes: Dividends: 30%, Interests: 0%; Royalties:0%.
Bilateral agreement: Sweden and Tunisia are bound by a double taxation treaty: yes

Signed	Ratified	Enforced
07/05/1981	Law 81-62 of 11/07/81	19/04/1983

Pour aller plus loin dans vos recherches nous vous proposons de connaître les taxes locales connaître les taxes locales qui s'appliquent à votre produit.

Sources of fiscal information

Tax Authorities: Swedish fiscal administration
Other domestic resources: Information about taxes from Invest Sweden

Accounting Rules

Tax year: Four tax years are possible: from 1 January to 31 December; from 1 May to 30 April; from 1 July to 30 June or from 1 September to 31 August.
Accounting standards: Swedish accounting standards conform to IAS standards.
Accounting regulation bodies: BFN, Bokföringsnämnden
Accounting reports: The annual reporting must contain a profit and loss account, a balance sheet, notes and an annual report. Large companies and companies listed on the stock exchange must also provide a statement of source and application of funds.
Swedish accounting mostly conforms to the principles set out in the texts of the 4th Directive. However, some national particularities remain; some of them are allowed by the 4th Directive:
- the presentation of certain items (subscribed capital not paid up, equalization accounts, set-up costs, intangible assets, footnotes) corresponds to the specifics of the country
- it is the same for the distinction between distributable and non-distributable equity capital, and the separation into three parts of operating activities: production, distribution and administration.
On the other hand, some of them are not, as for example:
- un-taxed reserves
- depreciation allowances and appropriations to the reserve
- elements affecting accounting
- exceptional operations.
Publication requirements: All joint-stock companies have to send a copy of their annual report to the legal authorities of the country.
Professional accountancy bodies: Foreningen Auktoriserade Revisorer
Bokforingsnamanden
Svenska Revisorsamfundet
Certification and auditing: Companies have to seek a statutory auditor to conduct an annual audit of the financial health of their organization. You can contact the FAR SRS (professional institute for authorized public accountants and approved public accountants).
Accounting news: International Accounting news
EIN Northern Europe Accounting News