- Sweden’s Official Gazette published Law No. SFS 2024:942, announcing amendments to the VAT Act
- Key provisions of the amended law include updated definitions, small business exemptions, exempted transactions, adjusted tax rates, input tax deduction conditions, and administrative procedures
- Small businesses with annual turnovers not exceeding certain amounts are eligible for VAT exemptions
- VAT exemptions are also applicable for certain transactions such as intra-Union deliveries, export services, and transactions involving investment gold and periodical publications
- A 12 percent VAT rate will be implemented on certain works of art, collectors’ items, and antiques
- The amendments are set to take effect on January 1, 2025.
Source: globalvatcompliance.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.
