Sweden has published the 2017 budget law confirming changes previously announced and publishing new developments to their current VAT rules.
As from January 2017, deduction of input VAT on expenses such as meals, entertainment or refreshments will only be allowed up to SEK 300 per person and per event. This amount is only €31 at this months’ FX rate, which means companies should review expenses carefully to make sure that their refund application is made for the correct amount. Exceeding this limit may trigger penalties for excessive refunds.
Although VAT rates are harmonized across the European...Read more
Sweden is planning to introduce a registration threshold for small established companies. Together with Malta and Spain, Sweden is one of the few countries who does not have this type of simplification for small businesses. The proposed threshold would be set at SEK 30,000, which is the equivalent to circa €3,100. This is a rather low threshold and very few businesses will be eligible to deregister from VAT.
The system of registration thresholds allows small businesses to avoid a VAT registration and related VAT obligations until a given threshold is exceeded. This system only applies to established...Read more
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