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Legal questions - Sweden

Discussion in 'Business & Tax Advice' started by Arcthor, Feb 3, 2013.

  1. Arcthor

    Arcthor Newbie

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    First of all, I would just like to say hello since this is my first post on this awesome forum and I am looking forward to expanding my knowleding regarding internet marketing :rolleyes: But I have some questions concering the laws, taxes and such.

    I currently live in Sweden, where the taxes are sky-high (damn socialist country, lol), and I was just wondering if by any chance anyone knows if it is really necessary to report my income? Will they really 'hunt down' one single person, just to get their taxes? I plan on transfering the money I earn from paypal to a local Swedish bank, if that is of any relevance. Is there any minimal amount I have to earn before I have got to pay taxes?

    If someone know the answers to these questions, or have any tips regarding this, I would be extremely grateful.

    Thank you in advance! :)
     
  2. mightydropship

    mightydropship Newbie

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    The Swedish authorities aren't stupid, if you earn Internet money and aren't planning on paying tax, then you need to investigate this topic with much more seriousness.
     
  3. oskedi01

    oskedi01 Regular Member

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    They will track you down if you make to much money, trust me, i know. :) They also requested me to open up a company to continue my business. So make $100, pay taxes and you have $35 left. lol :)
     
  4. mightydropship

    mightydropship Newbie

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    oskedi01 - is spot on! Don't risk your hard earned money :)
     
  5. 2much4u

    2much4u Registered Member

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    Where is ericsson when you need him :)
     
    Last edited: Feb 11, 2013
  6. ContentLockPro

    ContentLockPro Power Member Premium Member

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    While I don't know much about how the system works in Sweden per se, the reporting duties that banks have tend to be very similar in all jurisdictions. Basically - once the amount of incoming transactions to your bank account reaches $x, the bank will report the account to tax authorities, who in turn compare the figures that they see to your tax returns and in case of any discrepancy get in touch with you and perform an audit, making you pay your taxes.

    If you plan to avoid taxes then you must speak to a tax attorney who will figure out a plan for you - mostly involving foreign entities and bank accounts that are outside of your country (the latter is a must). Definitely do not act based on advice that you get on a public forum, though - this topic is far too important for taking lightly and can result in years of headache and a massive tax bill or in some cases even criminal charges, if done wrong.
     
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  7. Civandciva

    Civandciva Registered Member

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    Yes, this is the case in many countries. There is a limit up to which the bank would not report anything to the corresponding tax authority. In my country, anything below 15 000 euros per month is fine, it will not be reported. Just go and ask your bank.