Income Tax Rates Sweden 2020

The current sweden vat value added tax is 25 00.

Income tax rates sweden 2020. Sweden vat rate 25 00. Contact vat and sales tax rates in sweden for 2020. Sweden has one of the lowest income taxes in the world charging a maximum income tax of 25 00. This article only looks at the total local tax rates which are set to increase next year.

Income tax rates and thresholds annual tax rate taxable income threshold. Sweden highlights 2020 page 2 of 9 rate 21 4 for financial years starting after 31 december 2018 but before 1 january 2021. The maximum rate was 61 4 and minimum was 51 5. Surtax there is no surtax.

Personal income tax rate in sweden averaged 56 60 percent from 1995 until 2020 reaching an all time high of 61 40 percent in 1996 and a record low of 51 50 percent in 2000. Sweden has a progressive income tax the general rates for 2018 are as follows based on yearly incomes. Capital income is generally taxed at a flat rate of 30. You can deduct a basic allowance of between sek 13 700 and sek 35 900 on taxable earned income employment and business activity if you have had unlimited tax liability for the whole year.

From 468 700 kronor to 675 700 kronor. Countries with similar tax brackets include spain with a maximum tax bracket of 27 13 canada with a maximum tax bracket of 29 00 and mexico with a maximum tax bracket of 30 00. If you are over 65 years of age you will instead get an basic allowande of between sek 24 100 and sek 99 100. Non residents working in sweden for a non swedish employer without a pe in sweden are not taxed in sweden provided that the individual does not spend more than 183 days in sweden in a 12 month period.

This page provides sweden personal income tax rate actual values historical data forecast chart statistics economic calendar and news. 0 from 0 kronor to 20 008 kronor. From 20 008 kronor to 468 700 kronor. The personal income tax rate in sweden stands at 57 20 percent.

National tax is only paid on annual income over a certain amount this was 490 700 kronor 52 400 in 2019 but due to deduction rules you can earn a fair bit more without actually having to pay state tax. 2019 2020 state income tax rates sales tax rates and tax laws. Data published yearly by tax agency. Alternative minimum tax there is no alternative minimum tax.

Exact tax amount may vary for different items. About kr25 tax on a kr100 purchase. Tax rates 2020 persons with unlimited tax liability. Sweden residents income tax tables in 2020.