VATupdate

2022 Budget: Repeal advertising tax, Increase VAT exemption threshold, Reduced VAT rate on repairs, etc

  • The repeal of the advertising tax from 1 January 2022;
  • An increase in taxes on alcohol and tobacco from 1 January 2024;
  • The implementation of the EU Directive providing temporary VAT exemption on supplies to EU bodies for COVID-19 that will apply retroactively from 1 January 2021;
  • An increase in the VAT exemption threshold from SEK 30,000 to SEK 80,000 per year from 1 July 2022;
  • A further reduction in the VAT rate from 12% to 6% on repairs to bicycles, shoes, clothing, etc. from 1 July 2022; and

Source Orbitax

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