The right to self-correct unreported income for individuals and companies with an Estonian E-residency will be terminated from 1st of September 2022 - Be smart! Self-correct before this date!
Companies and individuals who have submitted incorrect income tax returns can submit self-corrections to the Swedish Tax Agency in order to avoid paying tax surcharges for providing false information. A self-correction measure is only possible during a six-years period calculated retroactively from the current fiscal year.
In order for the correction to be accepted as a self-correction, the person concerned must, among other things, submit it before the Tax Agency has initiated an investigation and within the specified deadline if the Tax Agency has officially proclaimed a general control. The deadline is counted from the date that the Tax Agency officially has proclaimed the general control on its website and until the stipulated due date from which a self-correction should no longer be considered made on its own initiative according to The Tax Agency. This means that the Tax Agency can implement restrictions with the support of the provisions in the Tax Procedure Act which have a limiting effect on the rights to self-correct.
The Tax Agency officially proclaimed a general control 7th of June 2022 in order to scrutinize individuals and companies with a digital identity, a so-called e-residency in Estonia. The general control comprises the fiscal year 2020 and 2021. The date from when the self-correction should no longer be considered to have been made on its own initiative is 1st of September 2022. This means that it is no longer possible to submit a valid self-correction and avoid tax surcharges from this date and further regarding the e-residency matter. Furthermore, this means, that in practice, a self-correction must be submitted no later than 31st of August 2022 to be considered made on its own initiative.
Individuals and companies with a digital identity in Estonia who have unreported income in Sweden should take advantage of this opportunity to self-correct, according to our professional opinion. By submitting a self-correction no later than 31st of August 2022, the person in question, could gain from this financially. If measures are taken within the time frame stated, the Tax Agency cannot impose any tax surcharges or any tax-crime related liabilities with the support of the Swedish Tax Offenses Act. Please note that the general control is only limited to individuals and companies that have e-residency in Estonia. In other cases, ordinary rules regarding self-corrections are applicable.
If you want to self-correct, but for some reason, feel prevented to take such steps on your own, please do not hesitate to contact us at Skattepunkten AB. You don't have to be lost in the tax jungle anymore. We can guide you and help you find your way out of the tax jungle. We are here for you with our expertise, regardless of whether your unreported income in Sweden is due to ignorance, negligence or intent. Given the deadline, we can offer to take special care of your interests by prioritizing your case. You are very welcome to contact us.