New VAT rules for small companies and amended rules for certain services and the sale of works of art

The Riksdag has voted in favour of the Government's proposal on amended rules for value added tax, VAT. The amendments affect smaller companies and certain services as well as the sale of works of art.

The new rules will mean for example that

• the turnover threshold for exemption from VAT is to be raised to SEK 120,000
• companies in other EU member states may use the turnover threshold in Sweden and that companies established in Sweden may use turnover thresholds in other EU member states
• it will be possible for more companies to issue simplified invoices
  certain virtual events and activities will be taxed in Sweden provided the purchaser is located here
• the tax rate of 12 per cent will apply for all sales of artwork, with the exception of sales for which the rules of profit margin taxation apply.

It is in connection with amended EU rules regarding VAT that the Government has proposed amendments to Swedish legislation. The amendments will come into force on 1 January 2025.