Tax declaration

Its the time of the year when we in Sweden have to declare our taxes. Here the taxes from our work are deduced from the salary before we receive it but there are a lot of other taxes. Sweden is rather famous for our high tax rates.

For work taxes the municipal tax depends on where you live, for me it is 33,77%

The state tax is extra 20% for any amount of your salary that was higher than 51275 for the year 2024 (which is the year the tax declaration is made.)

We get a precalculated tax form which you can change if you have any information that you want to add.

As additional taxes are always added at this time, I always need to pay in extra money.

These taxes are mandatory so they can't be avoided.

One is the funeral fee, which here is 0,277% of the yearly salary

One is the public service fee , which is 1219 sek per person (which cover the state television and radio channels)

As we own a house the tax for that is 9525 sek

For owning shares we have a concept here called ISK. With this you don't pay tax for dividends but you pay a certain percent of the value of your shares. The value is measure 4 times during the year and the average is what they base the percentage on. For 2024 the percentage was 1.09%

All things considered it means I need to pay in around an additional 29500 in taxes.

Paying extra taxes is never fun

I will pay in the extra taxes in April as I hope for more dividends and income then.