Submit Momsdeklaration yearly to Skatteverket

Momsdeklaration (VAT return) is a declaration submitted by companies to Skatteverket (the Swedish Tax Agency) to declare VAT on sales and purchases. Momsdeklaration is normally submitted quarterly, monthly or annually.

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What should Momsdeklaration contain?

Momsdeklaration shall contain information about the company's VAT-liable sales or withdrawals, outgoing VAT on sales or withdrawals, VAT-liable purchases in the event of reverse charge, outgoing VAT on purchases, imports, outgoing VAT on imports, sales that are exempt from VAT and input VAT.

Sales subject to VAT in principle include sales of all types of goods and services. There are some exceptions that are not subject to VAT, such as healthcare, dental care and social care, compulsory school, upper secondary school, college and university, banking and financing services. Outgoing VAT is the VAT that refers to what the company sold, which is added to the amount and is stated on invoices and receipts. Withdrawal is meant here the value of such that has not been sold, but for example used for private use or for a good or service that has been given away. Purchases subject to VAT refer to VAT that refers to what the company has purchased, which is stated on invoices and receipts.

Omvänd skatteskyldighet (Reverse tax liability) applies to such situations where the buyer is taxable for VAT, which is usually stated on the invoice. This means that your company does not have to charge VAT on the invoice received from a supplier. Outgoing VAT on purchases means the VAT that is to be added to the amount. Reverse tax liability applies, among other things, to digital services sold from suppliers outside Sweden's borders.

If the report in the VAT return shows that VAT is to be paid, it is paid to Skatteverket. If it shows that the company receives VAT back, it is paid to the company to the company's tax account by Skatteverket.

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What types of companies must declare and submit Momsdeklaration?

All types of companies, regardless of company form, that run a VAT-liable business must submit Momsdeklaration (VAT return). The company must then first register for VAT.

When should Momsdeklaration yearly be submitted?

Companies that report VAT once a year must report VAT on different dates depending on whether the company has traded with the EU, ie during the year has bought or sold goods or services from/to suppliers/customers within the EU (outside Sweden).

Many companies buy goods and services from suppliers from EU countries even if they are not aware of it. For example: several large companies selling digital services do this from Ireland.

If the company has traded with the EU during the financial year

The company must submit the VAT return approximately two months after the end of the year. For example, Momsdeklaration for the financial year January to December is normally submitted for handelsbolag (trading companies) and kommanditbolag (limited partnerships) no later than February 26 of the following year. If the 26th is a Saturday, Sunday, or public holiday, the declaration day is normally the closest following weekday.

If the company has not traded with the EU during the financial year

Aktiebolag (limited liability company) and ekonomisk förening (economic association)

The VAT return must be submitted no later than seven to eleven months after the end of the financial year. For example, Momsdeklaration for the financial year January to December for aktiebolag (limited companies) and ekonomisk förening (economic associations) is normally submitted no later than 17 August. If the 17th is a Saturday, Sunday, or public holiday, the declaration day is normally the closest following weekday.

Enskild firma (sole proprietor)

The VAT return must be submitted no later than approximately four and a half months after the end of the year. For example, Momsdeklaration for the financial year January to December is submitted for enskild firma (sole proprietor), normally no later than May 12. If the 12th is a Saturday, Sunday, or public holiday, the declaration day is normally the closest following weekday.

Handelsbolag (trading companies) and kommanditbolag (limited partnership)

The VAT return must be submitted no later than approximately two months after the end of the year. For example, Momsdeklaration for the financial year January to December for handelsbolag (trading companies) and kommanditbolag (limited partnerships) is normally submitted no later than February 26. If the 26th is a Saturday, Sunday, or public holiday, the declaration day is normally the closest following weekday.

Other occasions for reporting VAT

There are three types of occasions for VAT reporting, accounting periods for VAT. In addition to each month, there is a VAT return every month and every quarter. Depending on the company's turnover, it may be possible to use other dates to report VAT than per month. If the company has a turnover of less than SEK 1 million per year, VAT may be reported for the company once a year. If the company has a turnover of between SEK 1 and 40 million per year, VAT must be reported to the company at least once a quarter. If the company has a turnover of more than SEK 40 million per year, VAT must be reported to the company once a month.

It is always possible to report VAT more often to the company if you as an entrepreneur wish, for example every month, even if the company, for example, does not have to report more often than every year.

Late payment penalty if Momsdeklaration is not submitted on time

If Momsdeklaration is submitted too late, the company first receives a so-called consideration of the late penalty. It is a message from Skatteverket about the delay that you as a business owner can respond to in writing. Skatteverket then decides whether the company receives a late penalty or not. The late penalty is SEK 625. If the company is late, there may also be other penalties and costs such as tax surcharges.

Other important reports for companies that must submit Momsdeklaration

• Arbetsgivardeklaration must be submitted by companies that have employees and pay salaries or fringe benefits to them to Skatteverket.
• Årsredovisning shall be submitted by aktiebolag (limited companies) and in some cases other forms of company to Bolagsverket.
• Inkomstdeklaration 2 must be submitted by aktiebolag (limited companies) and ekonomisk förening (incorporated associations) to Skatteverket.
• NE-bilaga till Inkomstdeklaration 1 must be submitted to those who run enskild firma (one-man business) or enskild näringsverksamhet (sole trader) to Skatteverket.
• Inkomstdeklaration 4 must be submitted by handelsbolag (trading partnerships) and kommanditbolag (limited partnerships) to Skatteverket.