Sweden Tax Agency Updates VAT Guidance on Swap Transactions

The Swedish Tax Agency Dec. 19 updated guidance on the VAT treatment of swap transactions. The updated guidance explains that: 1) VAT must be assessed separately for each party whether or not he makes a taxable turnover of goods within the country as a taxable person; 2) the compensation for a barter transaction is the subjective value actually received by the seller, calculated on the basis of what the buyer is willing to pay; 3) the value must include all of the buyer’s expenses incurred for the transaction, including transportation, when the product or service isn’t in buyer’s normal price ...