Invoicing and Tax regulation in Sweden

Invoicing Regulation in Sweden

Swedish regulations mandate that invoices must include certain details like issued date, invoice number, VAT number of the supplier, full names, and addresses of the supplier and the customer, and the quantity and nature of goods or services provided, among others. Additionally, invoices should be issued within 15 days of the month following the supply, and stored for seven years.

Real-Time Reporting / Fiscalization in Sweden

Real-time reporting or fiscalization is not currently mandatory in Sweden. However, the tax authorities do encourage businesses to maintain up-to-date and accurate records of all transactions to ensure a smoother tax review process and avoid potential penalties associated with non-compliance.

E-invoicing in Sweden

E-invoicing is mandatory for all B2G transactions in Sweden as per the European Union (EU) directive on electronic invoicing for public procurement. For B2B and B2C transactions, e-invoicing is not mandatory, but widely encouraged due to the benefits of improved efficiency and accuracy.

VAT/GST/Tax Compliance in Sweden

Compliance with VAT/GST provisions is mandatory for all businesses in Sweden. The standard Swedish VAT rate is 25%, with reduced rates of 12% and 6% for certain goods and services. Businesses must register for VAT if their taxable turnover exceeds SEK 30,000 in a 12-month period. VAT returns are typically submitted every month, though smaller businesses may choose quarterly or annual reporting. Unregistered foreign businesses supplying electronic services to Swedish consumers must also comply with local VAT regulations.

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