You never EVER postpone a tax payment

This morning at 9:30 a.m. (GMT+2) the announcement came from Sweden's central bank AKA Riksbanken that it is lowering the policy rate by 25 basis points to 3.5%. The disappointment is great among all actors who had hoped for 50 points, i.e. a double reduction. This will most likely deepen and prolong the ongoing Swedish recession.

Unemployment increases daily with both notices and layoffs. Bankruptcies have also increased. During Covid-19, companies that suffered from a lack of liquidity and declining sales could apply for postponement of the payment of various taxes. This deferment ends on September 11, 2024, which means that all taxes are due for payment as of September 12, 2024. I suspect bankruptcies will increase next month.

In Sweden, taxes are personal, which means that in the event of bankruptcy, all taxes that a company owes to the Swedish state are transferred from the company to the board. In reality, this means that many business owners who will have to file for bankruptcy next month will also have a large personal tax debt.