Value added tax – Mervärdesskatt (Moms)

Requirement

All member states of the EU must adopt the EU directives regarding VAT into their own national legislation.

In Sweden, the periodicity of moms (VAT) reporting depends on the annual turnover of the company:

Annual turnover Periodicity of reporting
Below SEK 1 million Yearly
From SEK 1 million to SEK 40 million Quarterly
Above SEK 40 million Monthly

From January 1, 2015, when a VAT registered importer declares goods for import, they must declare a customs value, expressed in Swedish krona, to the Swedish tax agency, as part of the moms return. This rule applies whether or not the goods are subject to customs duty. In box 47 ‘Calculation of taxes’ of the moms return, the tax type field must be set to ‘1MT’ (monetary customs value) and the tax base field must be set to the customs value.

Swedish customs then establish the monetary customs value, which is included in the periodical customs invoice or, under certain circumstances, in a separate notification which the importer receives from the customs agent.

These requirements are also applicable:
  • VAT on imports

    At import, VAT is added, based on the value of the imported goods. The Swedish tax department, Skatteverket, periodically sends tax invoices based on information from the Swedish customs. This invoice must be entered in a specific way so that VAT reporting is correct.

  • Reversed VAT duty

    To prevent mistakes with VAT, in some countries, the buyer must pay the VAT instead of the seller. In Sweden, reversed duty is legal for companies in the construction industries.

M3 solution

The calculation, accounting, reporting, and reconciliation of value added tax is supported by generic functionality in M3. Country-specific functionality is then configured from this standard functionality, and delivered with the country version:

  • VAT reports and electronic reporting
  • Unpaid supplier invoices
  • VAT reports by invoice number for customer and supplier invoices

Configuration guidelines

See VAT periodic reporting.

Program ID Program name Description or comment
MNS100/G Company. Connect Division Specify the tax method per division.
CRS030

CRS031

 VAT Code. Open

VAT Rate. Open

 Specify the VAT rate by date, country, and area or state.
CRS395 Accounting Rule. Set Configure all VAT setups.
CRS610/J Customer. Open Specify the VAT registration number of the customer.
CRS620/E Supplier. Open Specify the VAT registration number of the supplier.
CRS630 Accounting Identity. Open Set the VAT account types as required.
OIS002/F Customer. Connect Addresses Optionally, in the VAT reg no field, specify the VAT registration number.