Swedes anticipate tax refund bonanza

Almost 2.5 million taxpayers will share in a total of 12.6 billion crowns in overpaid tax which is being refunded throughout August.

The payout begins this week – but that will be scant consolation to the 800,000 individuals who, between them, must add 4 billion kronor to the tax they paid earlier this year.

The latest refunds will take the total from 2004’s declarations to 20.6 billion kronor. The 1.4 million Swedes who declared electronically, by internet, phone or SMS, have already been refunded 8 billion kronor in overpaid tax.

But why have Sweden’s tax payers overpaid their tax by an average of 3,000 kronor? According to Sonja Lindquist at the National Tax Board (Skatteverket), the fault lies with the individuals themselves.

“It’s very complicated,” she told The Local.

“To start with, there are a lot of salary tables – and then people need to consider interest payments, property and earnings from other sources. People just make mistakes.”

The refunds will include a small amount of interest accrued, said Lindquist.

Everyone who told the tax office that they wanted the refund paid directly into their bank account will get it tomorrow. Otherwise, a payment slip will arrive in the post next week.