Sweden: Draft legislation implementing public country-by-country reporting presented to parliament
The draft legislation would become effective 22 June 2023
The draft legislation would become effective 22 June 2023
The government presented to the parliament (Riksdag) draft legislation implementing into Swedish law EU Directive 2021/2201 requiring qualifying multinational enterprises doing business in the EU to publicly disclose certain information on a country-by-country (CbC) basis.
The draft legislation would become effective 22 June 2023 and would apply for the first time for the financial year beginning after 31 May 2024 (i.e., from 1 January 2025 for companies with a calendar year financial year).
Under the draft legislation, multinational groups with their ultimate parent company in Sweden, as well as Swedish companies that are liable for tax in another country through permanent establishments, with revenues of more than SEK 8 billion per year must prepare an income tax report with information on their income and the taxes they pay in different countries. This report must be made public by submitting it to the Swedish Companies Registration Office and must be made available on the company's website.
Read a March 2023 report (Swedish) prepared by the KPMG member firm in Sweden
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