• Sweden edition
 
The comments below have not been moderated in advance and are not produced by The Local unless clearly stated.
Readers are responsible for the content of their own comments. Comments that breach our terms and conditions will be removed.
  Reply to this topic

How to calculate the profit/income of online shop?

Is there any tips for tax avoidance?

fanisme
post 19.Feb.2013, 11:20 PM
Post #1
Joined: 19.Feb.2013

I wanna open a online shop, but I'm despaired with high tax of Sweden. Does anybody know how to calculate the profit/income of a online shop by government? What does it depend on? The invoice or my bank account? Should I must offer the customers the invoice/receipt?
Is there any tips for tax avoidance? Of course the legal avoidance is perfect.
And is there any privilege policy for a business beginner?

Thanks a lot
Go to the top of the page
+
PDX
post 20.Feb.2013, 06:12 AM
Post #2
Location: Stockholm
Joined: 2.Aug.2011

No privilidges for startups or new businesses in Sweden, sorry. This is a socialist state and you are supposed to pay full taxes from the beginning like any other corporation.

Since your business will be online, could you perhaps incorporate in any other member state or in one of the zero tax zones?

For the actual profit calculation, it looks like you will be better off hiring an accountant.

~~~PDX~~~
Go to the top of the page
+
skogsbo
post 20.Feb.2013, 08:19 AM
Post #3
Joined: 20.Sep.2011

I would follow pdx' s advice as you sound a little new to business and tax in general.

Customers will expect a receipt. Etc.

Read all the different tax guides in English etc. Lots of info on what can be a legitimate business expense and moms there.

Finally, before starting you must have already done a fairly decent plan of costs, margins, etc your potential year 1, and 2 profit etc?
Go to the top of the page
+
Yorkshireman
post 20.Feb.2013, 09:48 AM
Post #4
Joined: 22.Nov.2011

QUOTE (fanisme @ 19.Feb.2013, 11:20 PM) *
Is there any tips for tax avoidance? Of course the legal avoidance is perfect.

Tax voidance by it's very nature is illegal in most countries ...maybe you mean minimise your tax liabilities wink.gif

My tip is to find a partner that has business experience, it sounds to me with the question asked here, and the other about credit card payments online, that you are heading towards an expensive set of mistakes. sad.gif
Go to the top of the page
+
fanisme
post 21.Feb.2013, 09:26 AM
Post #5
Joined: 19.Feb.2013

QUOTE (PDX @ 20.Feb.2013, 06:12 AM) *
No privilidges for startups or new businesses in Sweden, sorry. This is a socialist state and you are supposed to pay full taxes from the beginning like any other corporation. ... (show full quote)

Would you tell me which country in EU is zero tax for online shop? And I think I must have sort of personal number think for the bank account, right?
Go to the top of the page
+
Yorkshireman
post 21.Feb.2013, 11:59 AM
Post #6
Joined: 22.Nov.2011

As said, you are going to end up in an expensive mess ofr you personally sad.gif

I assume you are resident in Sweden? ... If you sell things personally on the internet then once it goes over 50.000:- then you must include it on your declaration. Once you pass 30.000:- then Skatteverket will count you as running at least a hobby business, so then it needs to be accounted for in the declaration etc...

If you register a company in another country, since resident in Sweden, any income you take out will be subject to swedish income tax ... as the main shareholder, even if the company is in another country ..Skatteverket reserve the right to say that technically it is a tax avoidance measure for the company as it is managed from Sweden, and can class the company as actually falling under Swedish rules ...you leave yourself wide open to not only tax bills in Sweden, but also another country ...it can become a mess.

You can incorporate the company where it is cheaper to do so, say UK, then register a branch in Sweden, and do business as usual. Corporation Tax in Sweden is not that bad compared to other EU countries, it is just employers avgift (companies social taxes paid on employees income) that are aggressive ... there are ways to minimise this, and also way to minimise profits within the company whilst trying to maximise the income for you personally ...however, I suspect that You need too much guidance that can be achieved via this forum ...and suggest you find a partner that has knowledge in start-up, running a company and tax rules.
Go to the top of the page
+
dgd
post 21.Feb.2013, 02:05 PM
Post #7
Joined: 16.Mar.2012

QUOTE (Yorkshireman @ 20.Feb.2013, 08:48 AM) *
Tax voidance by it's very nature is illegal in most countries ...maybe you mean minimise your tax liabilities My tip is to find a partner that has business experience, it ... (show full quote)

No, tax avoidance by its very nature is LEGAL. It's a form of tax planning. Tax EVASION is illegal though.
Go to the top of the page
+
fanisme
post 21.Feb.2013, 08:22 PM
Post #8
Joined: 19.Feb.2013

QUOTE (Yorkshireman @ 21.Feb.2013, 11:59 AM) *
As said, you are going to end up in an expensive mess ofr you personally I assume you are resident in Sweden? ... If you sell things personally on the internet then once it go ... (show full quote)

If I don't offer the receipt for every order, does that mean I can save some tax?
Go to the top of the page
+
polartwist
post 21.Feb.2013, 08:55 PM
Post #9
Joined: 5.Feb.2013

Be really careful or you will have Skatteverket on your back very soon, and then you will realize it was better to release ALL the receipt and declare everything as it is supposed to be in a civilized country smile.gif
Go to the top of the page
+

Reply to this topic
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:

 

756
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com