The Swedish tax authority has prepared a new version of the VAT Act, which will be applied as of July 1, 2023. If we look briefly into the history, the first version of this act was introduced in 1994. The goal was to develop a new, more up-to-date VAT law that is simple to comprehend and simple to implement. The new law has been given a more contemporary vocabulary and modified to conform to the principles, framework, and procedures of EU law.
The new VAT Act in Sweden
Public
Sweden
Author: Kristina Dosen
Category:
Fiscal subject related
General information
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313
Content accuracy validation date:
06.07.2023
Content accuracy validation time:
10:32h
Content
The most important changes that will affect business are:
- the ability to handle the delivery of goods,
- conversion of currency for deliveries of goods to other EU countries, and
- payments in advance or on account for VAT-free deliveries of goods to another EU country where the invoicing requirement is abolished, and others
Also, some of the rules from the „old" VAT will be in force after July 1. There are also changes in some rules in relation to invoices. More about the VAT Act will be in the coming news.
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