Sweden MOF Proposes Bill to Implement New VAT Rules, Amend Rules on Art, Virtual Events

The Swedish Ministry of Finance March 21 proposed a draft bill to implement new VAT rules for small businesses, and to amend rules on virtual events and works of art. The bill includes measures to: 1) increase the turnover limit for VAT registration to 120,000 Swedish kronor (US$11,357) from 80,000 kronor (US$7,571); 2) permit companies established in other EU countries to apply the turnover limit in Sweden; 3) allow small businesses established in other EU countries to benefit from an exemption if annual turnover doesn’t exceed 100,000 euros (US$108,133); 4) allow taxable persons exempt from VAT to issue simplified invoices ...