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Sweden: Mandatory reporting requirement rules, effective date July 2020

Sweden: Mandatory reporting requirement rules

The upcoming rules on reporting obligations under the mandatory disclosure rules (MDR / DAC6) are proposed to be effective 1 July 2020, with some measures being effective retroactively from 25 June 2018.

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The Swedish government does not anticipate or propose that there be domestic reporting as of 1 July 2020 at this stage.

At this time, the government is weighing the options for some type of domestic reporting, but this is not yet resolved.

After the Swedish Council has given its approval, a bill must be submitted to the Swedish Parliament (Riksdagen) for approval.


Background

The European Council in May 2018 formally adopted new mandatory disclosure rules (MDRs) for qualifying intermediaries and relevant taxpayers. In short, as of July 1, 2020, intermediaries or in some cases taxpayers will be required to disclose to the tax authorities information on reportable cross-border arrangements. Despite this application date, reportable cross-border arrangements, the first step of which is implemented between 25 June 2018 and 1 July 2020 must also be reported by 31 August 2020. 
 

Read a December 2019 report (Swedish) prepared by the KPMG member firm in Sweden

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