Sweden changes tax and social security rates from 1st Jan 2024
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Changes in social security rates
From 1st January 2024, reduced employer contributions rate for young people (who turned 15 but not 18 at beginning of the year) has been abolished. This means that the employer’s contribution for young people is now 31.42 percent.
| Age From | Age To | Income From (SEK) | Income To (SEK) | Contribution rate (%) |
|---|---|---|---|---|
| 66 | 99 | 0.00 | 999,999,999.00 | 10.21 |
| 15 | 65 | 0.00 | 999,999,999.00 | 31.42 |
Changes in income tax rates
Tax rates and income brackets have been revised for the 2024 tax year for recurring income as well as additional incomes.
Rates under Column 1 of the tax rate matrix are revised. It is now applicable for employees who have not yet attained the age of 66 years at the beginning of the tax year.
Rates under Column 3 of the tax rate matrix are revised however it shall continue to be used for calculating tax for employees who have attained the age of 66 years at the beginning of the tax year.
Please find the revised one-time tax rates in below table.
| Age Range | Income from (SEK) | Income To (SEK) | Rates (%) |
|---|---|---|---|
| If age of employee is up to 65 | 0.00 | 24,237.99 | 0 |
| 24,238.00 | 80,900.99 | 10 | |
| 80,901.00 | 185,700.99 | 21 | |
| 185,701.00 | 463,000.99 | 28 | |
| 463,001.00 | 598,500.99 | 34 | |
| 598,501.00 | 775,900.99 | 54 | |
| 775,901.00 | 999,999,999.00 | 57 | |
| If age of the employee is 66 and above | |||
| 0.00 | 24,237.99 | 0 | |
| 24,238.00 | 310,800.99 | 10 | |
| 310,801.00 | 463,000.99 | 28 | |
| 463,001.00 | 598,500.99 | 34 | |
| 598,501.00 | 775,900.99 | 57 | |
| 775,901.00 | 999,999,999.00 | 60 |
The price base amount for 2024 is SEK 57,300
Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change
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Sweden - 2024 Tax and Social Security rate amendments830.12 KB