Swedish import VAT changes

Importers into Sweden face a change in the administrative procedures from 1 January 2015.

Instead of reporting import Swedish import VAT to the Customs office, they will instead file and pay directly to the tax office.  This will improve cash flows since if there are output VAT to be declared, the import VAT may be offset against this amount and so reducing the cash payments.

Swedish VAT returns are generally prepared on a quarterly basis.  Businesses with a turnover above SEK 40m (approx Euro 5m) per annum must submit monthly returns.  There is no provision for the deferment of import VAT, although it is possible to apply for a 30-day credit line for regular importers.  The tax office may require a bank guarantee for this facility.

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