Foreign Income Reporting in Sweden

50% of the population report foreign income incorrectly in tax returns, as per Skatteverket report.

Total household assets held abroad amount to around SEK 300 billion per year.

The majority of Swedes’ foreign capital assets remain in Europe, particularly Switzerland, which is a so-called low-tax jurisdiction.

But large amounts of assets are also held in the UK and Luxembourg.

Data Exchange and Reporting

Every year, the Swedish Tax Agency receives around one million control data for 600,000 individuals via various agreements for international exchange of information via: CRS, DAC2, and FATCA.

India and Sweden have an agreement via CRS (OECD), and the exchange of financial data happens between the two countries.

Any income generated in India should be reported to Skatteverket (if you are a tax resident in Sweden, meaning registered with Skatteverket registry).