The EU's Economic and Financial Affairs Council (ECOFIN) has approved the Value Added Tax in the Digital Age (ViDA) proposal, aiming to modernize VAT rules and combat tax fraud. ViDA introduces key measures like Digital Reporting Requirements (DRR), VAT collection for the platform economy, and expanded Single VAT Registration, with implementation planned from 2027 to 2035. Businesses must prepare... Read more

Sweden's parliament has approved VAT changes effective January 1, 2025, including raising the VAT registration threshold to SEK 120,000 and imposing a 12% VAT rate on artwork sales. Virtual events will now be taxed based on the recipient's location, and the new EU-Wide Small Business Scheme allows businesses to benefit from VAT simplifications across multiple EU states. These amendments aim to sim... Read more

In today's Swedish business landscape, companies that manage the sale of goods or services, whether through cash or card payments, typically require a cash register or Point of Sale (POS) system. This necessity spans a wide range of businesses, including shops, restaurants, cafes, salons, service workshops, and similar establishments. A POS system is essential for managing sales and payments effic... Read more

The purpose of this document is to discuss payment media that are used in sales transactions in Sweden, with an emphasis on modern ones, and how they are related to fiscalization. Read more

As a reminder, fiscalization in Sweden requires that cash register systems keep certain electronic records. All cash register systems in Sweden handling cash or card payments must incorporate an electronic journal function. This feature, integral to Point of Sale (POS) systems, is designed to save detailed information about sales and payments. The mandate applies to all companies dealing with cash... Read more

One way to validate VAT numbers in the EU is the VAT Information Exchange System (VIES), which is a crucial tool for businesses operating within the European Union. Owned by the European Commission, VIES is a search engine that retrieves data from national VAT databases to verify VAT numbers. Here’s a detailed look at how VIES works and its significance. How VIES Works When a search is made usi... Read more