Sweden: Riksdag introduces reverse charge on specific goods

Riksdag approved the bill to introduce Reverse Charge for VAT in specific trades.

In such cases, the buyer shall be obliged to account for and pay VAT on the goods instead of the seller.

The reverse charge shall only apply if the invoice exceeds SEK 100,000. The new rules do not apply to sales to private individuals. The purpose of the amendment is to prevent large-scale VAT fraud leading to large tax losses.

The legislative amendments will take effect on 1 April 2021.