VATupdate

2022 budget bill: increased SME threshold and lower rate for repairs of bicycles, shoes, leather goods, clothing and household linen

  • An increase in the turnover limit to SEK 80,000 (from SEK 30,000) per tax year for the exemption from value added tax (VAT)
  • Reduction of the VAT rate to 6% (from 12%) for certain repairs of bicycles, shoes, leather goods, clothing and household linen

Source: KPMG

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