- Law No. SFS 2024:942 amends the VAT Act in Sweden
- Measures include defining taxable persons, transactions, and economic activity
- Small businesses with annual turnover below certain thresholds are exempt from VAT
- Certain transactions such as intra-Union deliveries and export services are exempt
- A 12 percent tax rate is set for certain works of art, collectors’ items, and antiques
- Specific conditions for deducting input tax are outlined, especially for profit margin transactions
- Administrative procedures for identification decisions, exemptions, appeals, and VAT-free invoices are detailed
- The law will be in effect from January 1, 2025.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
