Compliance
Despite an expressed ambition in the ongoing Swedish legislative work to simplify legislation, there is a clear trend in tax law towards more detailed and more frequent reporting requirements.
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For example, a Swedish or foreign employer must now submit employer declarations (PAYE) on a monthly basis, with extensive information such as where the personnel are working from.
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As the regulations have become more demanding and complex, public opinion has increasingly demanded transparency and compliance with regulations from companies operating in Sweden. There can be significant reputational risks associated with not complying with the requirements and regulations in Sweden.
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Fortunately, there are ways to address compliance issues as a business owner. Feel free to contact us if you would like to know more.
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Remaining Compliant
Our experience tells us that it is important for all businesses to take their compliance responsibilities seriously. If compliance issues are integrated into decision-making, the risks of errors and mistakes are significantly reduced.
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Therefore, it is important to consult a tax lawyer in situations such as when a person working from abroad is to be employed, when an office is to be opened abroad, when shares in another company are to be acquired, when an incentive program is to be rolled out, or when the management of a company is to operate from abroad.
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Processes for easier Compliance
For many companies, recurring situations arise where compliance is of great importance. This may involve, for example, when personnel from one subsidiary are temporarily seconded to another subsidiary in a different country. For companies facing these recurring situations, there is significant value in allowing their own finance or HR function to handle compliance.
Often, this requires the development of templates, flowcharts, instructions, or training to simplify the process. At Nomadtax, we are happy to have a conversation with your organization to explore how you can streamline your work on compliance and tax.
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Ad-hoc Advice re Compliance
In addition to recurring compliance issues, there are often one-time legal questions that need to be handled correctly. This could involve how a particular compensation should be treated tax-wise, what registration is necessary for a foreign company, or whether withholding tax should be applied when paying invoices.
Get in touch with us at Nomadtax to take the first step towards continuing to be compliant.
