What to do if you accidentally report the wrong VAT?

What to do if you accidentally report the wrong VAT?

If you make an incorrect statement in your tax return, you risk having to pay a tax surcharge. If you do so with will or through gross negligence, you may be liable under the Tax Crimes Act.

Did you make a mistake? In this case, make a correction to avoid a problem. You do this by replacing the incorrect declaration with a declaration that has been corrected.

If you discover incorrect vat accounting from previous years, you can correct the VAT report up to six years back.

In connection with the financial statements, it is sometimes presented that the VAT report for the year is not correct. It must also be corrected. The Swedish Tax Agency accepts when the corrections for financial statements are made in the tax return for the last accounting period of the year.

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Increased penalties and inspection charges by Skatteverket (Swedish Tax Agency)

If you live in Sweden or run a business here you should be aware that the government proposed to increase by 25% penalties for late submissions of tax declarations and for inspections by Skatteverket (Swedish Tax Agency). The increase will come into force the 1st of January 2016 and will apply to declarations submitted and inspection done after that date.

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