Obligation to file Statements of Income in connection with cross border business activity
- Sweden
- 06/04/2007
Foreign credit and securities institutions and insurance companies planning to conduct business in Sweden in accordance with the Directives 77/780/EEC, 89/646/EEC, 92/96/EEC or 93/22/EU must, before starting in business, according to Chapter 3, Section 32b, of the Swedish Act (1990:325) on the Filing of Income Tax Returns and Statements of Income, submit to the Financial Supervisory Authority (Finansinspektionen) an undertaking in writing in which the company undertakes to file annual statements with the National Tax Board (Riksskatteverket) not later than 31 January of the year following the income year. The extent of the obligation appears from Chapter 3 Sections 15, 22, 25a, 27, and 32c.
Insurance companies
An annual Statement of Balance shall be furnished regarding individuals resident in Sweden who own life insurances or are beneficiaries by right of disposition to such an insurance.
The statement shall contain the value at the end of the year and at the end of the previous year. This value is calculated, on a traditional life insurance, as the technical surrender value plus profits allocated to the policy holder. Other insurances are valued at the market value of the invested capital at the end of the year in question. No statement is necessary if the value is less than SEK 1000.
Credit and Securities Institutions and Banks
Interest and claims
A statement shall be furnished for creditors who are individuals or estates of deceased persons. A creditor is someone who has been either credited intrest or to whom intrest has benn paid.
The statement shall contain:
- interest which has been credited or paid to a creditor
- the total balance of the account at the end of the year
No statement is needed if the interest paid does not exceed SEK 100 or if the account is non-interestbearing.
Interest on debts
A statement shall be furnished for debtors who are individuals or estates of deceased persons and contain interest paid during the calendar year. No advising fees, commissions etc. shall be included.
There is no obligation to report the balance of the debt.
If more than one individual is liable for payment, i.e. if a married couple have a joint liability for a debt, separate statements must be furnished and debt interest must be equally divided if no other conditions are known.
The obligation to furnish statements comprises all interest payments made on or before 31 December of the year in question.
If a person has both received interest from and paid interest to the same financial institution, the amounts must be reported separately.
Yield on securities, shares, mutual funds, etc.
A statement shall be furnished regarding dividends and holdings of shares as well as yield and holdings of other securities and participations in mutual funds.
The Statement of Income shall specify dividends received by the holder of the shares etc. and tax withheld at source for both individuals and legal entities who are entitled to receive dividends on their own account at the time dividends were paid.
Statements of Income shall be furnished for individuals who were registered with the institution liable to supply information as holders of shares and participations in mutual funds or other securities.
Sales of financial instruments
A statement shall be furnished for individuals and estates of deceased persons who have
disposed of shares, securities or other financial instruments during the calendar year.
The statement shall include the agreed sales price after deduction for commissions etc., the number of securities sold, type, and class.
Source: Skatteverket
