Sweden

Overview

Last reviewed - 06 July 2020

Sweden is situated on the Scandinavian Peninsula in the north of Europe near the Atlantic Ocean and the Gulf Stream. In spite of its position in northernmost Europe (Stockholm, the capital, is on the same latitude as the southern tip of Greenland), the climate is comparatively mild. Sweden is characterised by its long coastlines, large forests, and numerous lakes.

Sweden is one of the oldest kingdoms in Europe, dating from about the year 1000. A military power during the 17th century, Sweden has not participated in any war for almost two centuries (an armed neutrality was preserved in both World Wars). Sweden is a constitutional monarchy with a parliamentary democracy government and a highly developed economy. Swedish is the official language of Sweden, and Sweden's currency is the krona (SEK).

Sweden's long-successful economic formula of a capitalist system interlarded with substantial welfare elements was challenged in the 1990s by high unemployment and in 2000 through 2002 and again in 2009 by the global economic downturns, but fiscal discipline over the past several years has allowed the country to weather economic vagaries. Sweden joined the European Union (EU) in 1995. In September 2003, Swedish voters turned down entry into the euro system due to concerns about the impact on the economy and sovereignty.

Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a skilled labour force. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output and exports. Agriculture accounts for little more than 1% of gross domestic product (GDP) and of employment.

PwC Sweden is locally represented all over the country and supports clients with the knowledge and skills of its people and with access to a broad range of other professionals across the PwC global network of firms.

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%)

21.4

Corporate income tax (CIT) due dates
CIT return due date

The due date depends on the month in which the financial year ends (1 July for calendar year taxpayers).

CIT final payment due date

90 days after the assessment has been made.

CIT estimated payment due dates

Monthly instalments.

Personal income tax (PIT) rates
Headline PIT rate (%)

Residents: 20, plus municipal tax;

Non-residents: 25

Personal income tax (PIT) due dates
PIT return due date

2 May

PIT final payment due date

12 February

PIT estimated payment due dates

NP

Value-added tax (VAT) rates
Standard VAT rate (%)

25

Withholding tax (WHT) rates
WHT rates (%) (Div/Int/Roy)

Resident: NA;

Non-resident: 30 / 0 / 21.4

Capital gains tax (CGT) rates
Corporate capital gains tax rate (%)

See Sweden's corporate tax summary for capital gain rates.

Individual capital gains tax rate (%)

30

Net wealth/worth tax rates
Headline net wealth/worth tax rate (%)

NA

Inheritance and gift tax rates
Inheritance tax rate (%)

NA

Gift tax rate (%)

NA

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.