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In brief

On 22 May 2024, the Swedish Parliament is expected to vote on a proposal to remove the requirement to retain original hard copy accounting materials. The bill, published on 29 February 2024, proposes that hard copy accounting materials, which has been duly saved digitally, no longer has to be kept in hard copy. The proposal is expected to result in significant time and cost savings for many companies.

The proposal is very welcomed as the requirement to retain hard copies has created administrative burden for many groups and companies. The amendments are proposed to enter into effect on 1 July 2024.

In case you have any questions, please reach out to any authors of this alert.

Current law in short

  • The Swedish Bookkeeping Act (Sw. Bokföringslagen) requires Swedish companies to save hard copy accounting materials in its original form for at least seven years.
  • Under certain circumstances, it is possible to transfer the accounting information into digital form however even with this possibility, the hard copy materials should still be kept safe for four years.

Key takeaways from the proposal

In short, the Swedish Government proposes that the law is amended in terms of:

  • The requirement to save hard copy accounting materials in its original form is abolished.
  • Companies can save accounting materials in electronical copy only.
  • Companies may destroy hard copy accounting materials as long as the materials have been transferred to digital form, unless there is a risk that the accounting information can change or vanish.
  • The law is proposed to enter into effect on 1 July 2024. For companies with calendar year as financial year, the new rules will apply as of financial year 2025. For companies with broken financial year, the new rules should be applied for the first time for the financial year beginning after 30 June 2024.

Linnea Back is a member of Baker McKenzie’s Tax Practice Group in Stockholm. Her main practice area is tax reorganization for national and international company groups, as well as for small or medium-sized corporations managed by their owners. Linnea also advises companies in connection with tax litigation processes. She is recognized as Leading Individual for Tax in Legal 500 2021. Linnea is a frequent speaker on seminars regarding tax news and restructuring issues.


Marta Janiak is a member of Baker McKenzie’s Corporate Group in Stockholm. Marta joined Baker McKenzie in 2019 as a paralegal. She received her LL.B from the University of Surrey in 2016 and an LL.M from the University of Groningen in 2018. In 2024 she received an LL.M. from the University of Stockholm and began working as an associate at Baker McKenzie Stockholm.


Ulrika Udén is a member of Baker McKenzie’s Tax Practice Group. Prior to joining the Firm in 2020, she worked at a multinational accounting firm in Stockholm focusing on Swedish and international corporate income tax. Ulrika's previous experience also includes working with private M&A and corporate law.

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