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When will you get your tax refund in Sweden?

The tax rebate will bring a welcome relief to many people's Swedish bank accounts this year. Here are the key dates when you can expect to receive it.

When will you get your tax refund in Sweden?
Are you getting kronor back on your taxes this year? Photo: Fredrik Sandberg/TT

If you filed your tax declaration online by the end of March, and you didn’t need to make any changes to it, you should get any rebate you’re owned on April 5th or 6th.

If you know that you are owed money back but don’t get it, it could be because you haven’t submitted your bank account details to the Tax Agency (Skatteverket).

You can submit your bank account details via this link.

The final deadline for filing your tax declaration is May 2nd, and you can submit it either online, through text message, by calling or by posting the paper version to Skatteverket. You will then receive your refund by June 9th.

If you haven’t yet received the paper version of your tax declaration form, fear not. It’s scheduled to arrive by April 15th, so there’s plenty of time left.

And finally, if you are not one of the lucky ones and you instead have residual tax to pay, you have to pay it by September 12th at the latest, unless it’s less than 100 kronor in which case you can put it off until the tax declaration season of 2024.

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MONEY

Swedish central bank: Cuts to key interest rate in May or June ‘likely’

Sweden's Riksbank on Wednesday left the country's main interest rate unchanged at 4 percent, with cuts in May or June "likely".

Swedish central bank: Cuts to key interest rate in May or June 'likely'

“Inflation is in the process of stabilising at the [2 percent] target, but inflationary pressures are still somewhat elevated,” the bank wrote in a press release accompanying the announcement.

It was widely expected that the bank would choose to keep the key interest rate unchanged at 4 percent, the highest level since 2008.

“It is likely that the [key interest] rate can be cut in May or June if inflation prospects remain favourable,” it added.

According to the bank’s forecast, it expects to lower the key interest rate three times over the next year, reaching 3.2 percent by the first quarter of 2025 – significantly lower than the 4.1 percent prediction from its November 2023 forecast.

The bank also revised its forecasts for GDP and CPI (consumer price index) inflation. GDP is expected to stand at 0.3 percent this year, up from the previous prediction of -0.2 percent, CPI inflation is predicted to stand at 3.5 percent, down from the previous prediction of 4.4 percent, while the prediction for CPIF inflation (consumer price index with a fixed interest rate, the measure favoured by the Riksbank), remains the same at 2.3 percent for 2024.

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There are a few possible risk factors which could affect these predictions, it writes, including new supply shocks due to geopolitical unrest, the krona continuing to weaken, or companies’ pricing behaviour not changing as expected.

Experts from major Swedish banks welcomed the decision, adding that the Riksbank may lower the key interest rate more often than suggested in its forecast.

“We think there will be even more drops to the interest rate,” head analyst at Nordea, Susanne Spector, told TT newswire, adding that there is a “high chance” that the rate could be lowered as soon as May.

SEB agreed, predicting four drops to the interest rate and a “slightly higher chance” of a drop to the rate in May rather than June.

“For households under pressure an earlier drop is positive,” SEB interest strategist Amanda Sundström told TT.

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