Sweden Tax Codes
Tax codes determine how much tax is paid on each transaction line item. For NetSuite to calculate correct values on transaction records and tax reports, make sure that the tax codes for Sweden are set up correctly.
Sweden Tax Code Changes
If you are using the International Tax Reports SuiteApp, take note of the following:
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You must use the new tax code properties provided by the SuiteApp. The VAT reporting feature for Sweden uses Import, Reduced Rate, and Special Reduced Rate properties. These are in addition to the properties that are common to all nexuses. Carefully review your current tax codes and edit them to match the settings in the Tax Code Table for Sweden.
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The ESSP tax code used for purchases of services from EU must have a check on the boxes for Reverse Charge Code, EC Code, and Applies to Service Items.
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Transactions with the following tax code settings will not be picked up in the Sweden VAT report:
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Tax code for purchase of services, with the boxes for Applies to Service Items and Reverse Charge properties checked.
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Tax code for sales or purchase of goods and services within the EU, with the boxes for Applies to Service Items, Reverse Charge Code, and Export properties checked.
Edit your tax codes and refer to the Tax Code Table for Sweden for the new tax code settings.
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For more information on tax codes, see Tax Code Properties and Creating Tax Codes.
Tax Code Table for Sweden
The following table shows the tax properties required to correctly generate the tax reports provided by the International Tax Reports SuiteApp. The tax code names or letters presented in the table are suggested names or default system preferences. You can rename the tax codes. Tax reports identify transactions by looking at the tax code properties, not the tax code names.
On the New Tax Code or Edit Tax Code page, check the boxes of the properties that apply to the tax code. For more information about tax code properties, see Tax Code Properties.
To understand how NetSuite uses the tax codes to get the values for the VAT declaration for Sweden, see What goes into each box - Sweden VAT report.
For information about notional rates in EU B2B transactions and VAT reports, see EU Notional VAT.
Please consult your tax agency for the correct tax rates.
|
Tax Code |
Description |
Property |
Rate |
Notional Rate |
Available On |
|---|---|---|---|---|---|
|
S-SE |
Standard rate |
|
25% |
|
Both (Sales and Purchases) |
|
R-SE |
Reduced rate |
Reduced Rate |
12% |
|
Both (Sales and Purchases) |
|
SR-SE |
Special reduced rate |
Special Reduced Rate |
6% |
|
Both (Sales and Purchases) |
|
Z-SE |
Zero rated sales |
|
0% |
|
Both (Sales and Purchases) |
|
E-SE |
Exempt |
Exempt |
0% |
|
Both (Sales and Purchases) |
|
RCG-SE |
Reverse charge in country (goods) |
Reverse Charge Code |
0% |
S-SE |
Both (Sales and Purchases) |
|
RCS-SE |
Reverse charge in country (services) |
Reverse Charge Code Applies to Service Items |
0% |
S-SE |
Both (Sales and Purchases) |
|
O-SE |
Sale of goods outside of EU |
Export |
0% |
|
Sales |
|
I-SE |
Purchase of goods from outside of EU |
Import |
0% |
|
Purchases |
|
IS-SE |
Purchase of services from outside of EU |
Import Reverse Charge Code Applies to Service Items |
0% |
S-SE |
Purchases |
|
ISR-SE |
Purchase of services from outside of EU |
Effective From: January 1, 2022 Reverse Charge Code Import Applies to Service Items Reduced Rate |
0% |
R-SE |
Purchases |
|
ISSR-SE |
Purchase of services from outside of EU |
Effective From: January 1, 2022 Reverse Charge Code Import Applies to Service Items Special Reduced Rate |
0% |
SR-SE |
Purchases |
|
ES-SE |
EU sales/purchases (goods) |
EC Code |
0% |
S-SE |
Both (Sales and Purchases) |
|
ER-SE |
EU sales/purchases (goods and related services) - reduced rate |
EC Code Reduced Rate |
0% |
R-SE |
Both (Sales and Purchases) |
|
ESR-SE |
EU sales/purchases (goods and related services) - special reduced rate |
EC Code Special Reduced Rate |
0% |
SR-SE |
Both (Sales and Purchases) |
|
EZ-SE |
EU purchases - zero rate |
EC Code |
0% |
Z-SE |
Both (Sales and Purchases) |
|
ESSS-SE |
EU sales (services) |
EC Code Applies to Service Items |
0% |
S-SE |
Sales |
|
ESSP-SE |
EU purchases (services) |
EC Code Applies to Service Items Reverse Charge Code |
0% |
S-SE |
Purchases |
|
IV-SE |
Import VAT at standard rate |
Import Reverse Charge Code |
0% |
S-SE |
Purchases |
|
IVR-SE |
Import VAT at reduced rate |
Import Reduced Rate Reverse Charge Code |
0% |
R-SE |
Purchases |
|
IVSR-SE |
Import VAT at special rate |
Import Special Reduced Rate Reverse Charge Code |
0% |
SR-SE |
Purchases |