Sweden Income Tax Rates for 2024

Sweden Income Tax Brackets

Sweden has a bracketed income tax system with three income tax brackets, ranging from a low of 0.00% for those earning under kr372,100 to a high of 25.00% for those earning more then kr532,700 a year.

How does the Sweden Income Tax compare to the rest of the world?

Sweden has one of the lowest income taxes in the world, charging a maximum income tax of 25.00%. Countries with similar tax brackets include Spain with a maximum tax bracket of 27.13%, Canada with a maximum tax bracket of 29.00% and Finland with a maximum tax bracket of 30.00%. Keep in mind that our ranking measures only nationwide income taxes, and does not account for local income taxes at state, province, or municipal levels.

Maximum Income Tax	Income Tax Allowance	World Tax Rank
25.00%	kr12,500 ($0 USD)	28th of 34

What is the Sweden Income Tax?

Sweden's personal income tax is a bracketed income tax that must be paid yearly by all citizens to the government of Sweden. Failure to pay, or underpayment of, the Sweden income tax can result in high fees, fines, or jail time.

In addition to Sweden's income tax, other taxes may apply to wages or profits earned, including social services, medical care, and capital gains taxes.

Sweden Income Tax Allowance

Sweden provides most taxpayers with an income tax allowance of kr12,500, which can be kept as a tax-free personal allowance. Sweden's tax credit is a basic (fixed) allowance available to all (single) taxpayers without dependents.

A tax credit is a fixed amount of money that may be kept by taxpayers without paying any income taxes. Generally, a tax credit is subtracted from your gross income before your taxable income is calculated.