News

Economic Employer: The ‘Game Changer’ in Sweden’s Tax World
As an employer with assignees in or business travelers in and out of Sweden, or if a company is planning to send assignees to Sweden, it is likely they are aware of a very important change in Sweden’s tax law that came into effect on January 1: the introduction of the economic employer concept. The new regulations around economic employer mean that Skatteverket will now consider factors beyond who pays the employee’s salary when assessing who is the employer of an employee. Days spent working in Sweden will also be critical to determining the mobile employee’s tax liability. Organizations sending employees to Sweden should set up a process as soon as possible to track:
  • who is travelling to Sweden,
  • how many days are spent in Sweden, and
  • what tasks are performed in Sweden.
  KPMG & Meijburg invite you to watch their new video “Economic Employer: The 'Game Changer' in Sweden's Tax World” (approx. 8 minutes) to learn more about the new approach by Skatteverket and what economic employer means for the members of the Swedish Chamber of Commerce and the Dutch Chamber and their mobile employees in Sweden.     Scott Shaughnessy (GMS-Washington National Tax) and Petter Frödeberg (GMS-Sweden) discuss the introduction of the economic employer concept in Sweden. This is a significant change in Sweden’s tax system with important implications for global mobility.        
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Welcome New Members!
The Swedish Chamber of Commerce is very pleased to give a warm welcome to our new Member Readly and IPscreener.
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Swe-Cham Member Storytel has surpassed the milestone 1.5 million paying subscribers
Storytel has reached a new goal on its strong global growth trajectory. On Monday 18 January 2021, the audiobook and e-book streaming service surpassed the milestone 1,500,000 paying subscribers.
Last week, Storytel presented its subscriber and revenue growth for the fourth quarter of 2020. With an average of 1,442,000 paying customers for the quarter and a full-year growth of 33 percent, the previously presented forecast was exceeded. Storytel also announced that the company expected to pass the milestone of 1.5 million paying subscribers before the end of January – a goal that has now also been achieved. “Storytel was born 15 years ago with the vision to make the world a more empathetic place with great stories that can be shared and enjoyed by anyone, anywhere and at anytime. I’m profoundly grateful for the amazing response that Storytel receives daily from our users around the world. It makes us, if possible, burn even stronger in our mission to create and develop the very best reading experiences together with authors, publishers and users. A big thank you to all our fantastic customers”, says Jonas Tellander, CEO and founder of Storytel. Storytel was created in 2005 and became a digital pioneer in the fast-growing global audiobook market. Today, the company is northern Europe’s largest streaming service for audiobooks and e-books, with a total of more than 500,000 titles in the service. Storytel has been launched in over 20 markets in the world and intends to launch a further 20+ markets during the period 2021–2023.   Read more  https://investors.storytel.com/en/storytel-has-surpassed-the-milestone-1-5-million-paying-subscribers/
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Swedish Chamber of Commerce New Year’s reception
On January 21, 2021 the Swedish Chamber of Commerce was very pleased to organize our first digital New Year’s Reception in collaboration with the Dutch Chamber of Commerce in Sweden and to welcome more than 55 participants. We would like to  thank our Honorary Guests, Ambassador of Sweden Annika Markovic and Ambassador of the Netherlands Bengt van Loosdrecht for sharing their thoughts and plans for the coming year and for their open invitations to all companies to contact their Embassies for assistance if needed. Areas mentioned for collaboration between the two countries was AI & Innovation and renewable Energy, especially district heating. The Dutch Embassy was very pleased to introduce their Innovation House which will open up for many new possibilities and company services from now on. The Swedish and Dutch Chambers are looking forward to plan for more events and business matchmaking opportunities together for our members in the year to come. For more photos please visit Past Events
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This is what the curfew means for businesses
There is a curfew in place throughout the Netherlands from Saturday 23 January through Wednesday 10 February. How does this curfew affect your business? For instance, can your employee still travel to and from work? This article answers this and other questions about the 'avondklok'.

What is the 'avondklok'?

The avondklok or  is in place from Saturday 23 January through Wednesday 10 February, every day from 21:00 - 04:30 hours. During these hours, it is not allowed to be out on the streets without a valid reason. Nor can you:
  • sit in your own vehicle;
  • travel on public transport;
  • sit in a taxi;
  • sit in a company vehicle.
You are allowed to be in your garden or on your balcony.

What are the exceptions?

You are allowed out on the street during curfew under the following circumstances:
  • performing necessary work;
  • calamities;
  • medical aid to persons or animals;
  • providing care to relatives or neighbours ('mantelzorg');
  • travel at the request of a judge or public prosecutor;
  • travel for a funeral;
  • walking a dog on a leash;
  • travel to or from abroad;
  • taking a vocational education (mbo/hbo) or university (wo) exam.

What happens if you are outside without a valid reason after 21:00 hours?

It is your own responsibility to make sure you are inside on time. So factor in possible traffic and delays. The enforcers (police or boa's) will assess whether or not you have a valid reason to be outside during the curfew. If you break curfew, you risk a fine of €95.

When are persons allowed to be outside, and is there a difference between private and work reasons?

General

If a person older than 12 years of age needs to be outside after 21:00 hours, they have to be able to show a '' (in Dutch, but will be made available in other languages) form. If you need to go outside on a daily basis, you can fill out a period of time instead of just one day. You don't need a form in case of calamities, return from abroad or walking the dog.

Work-related

If you or your employees need to go out to work, you need a second form besides the Self-declaration: an . The employer fills out this form for his employees. The employer is responsible. If you hire temps, the hiring party needs to sign the form.

Travel

Travellers from abroad do not have to show a form, but they need to be able to demonstrate that they have come from abroad, and that they have a valid reason for being outside after 21:00 hours. They can use a ticket as proof, for instance.

Do I have to fill out an Employer's declaration for every employee, every day?

You do have to fill out an Employer's declaration for every employee. If you print out the form, you have to sign it. If you fill it out online, you can check the box that you have filled it out truthfully. If your employees need to go out every night, you won't have to fill out a new form every time. You fill out the relevant days and times on the declaration. For instance: weekly on Mondays and Tuesdays, or a number of days in a row. Be as specific as possible.
 
Read more https://www.kvk.nl/english/this-is-what-the-curfew-means-for-businesses/
Photo: Scott Graham on Unsplash
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Night-time curfew as of Saturday 23 January

Night-time curfew as of Saturday 23 January

On Saturday 23 January a night-time curfew will come into force throughout the Netherlands. The House of Representatives consented to this new measure yesterday. This means that everyone has to stay inside between 21.00 and 4.30. The idea behind the night-time curfew is that people will visit or meet up with each other less often. This will help slow the spread of coronavirus. This is important because the government is gravely concerned about the spread of coronavirus variants that are even more infectious than the virus we are already familiar with in the Netherlands. We need to delay these new variants from gaining the upper hand for as long as possible.
While the curfew is in force, people are not permitted to be outdoors between 21.00 and 4.30. The measure will apply until 4.30 on 10 February.

Forms

You can only be outdoors if you have a valid and pressing reason for doing so. You must carry a self-declaration for curfew exemption with you. If you have to work, you must also be able to show an employer’s declaration for curfew exemption. In certain specific cases, no declaration is required. Only use the official forms provided by the government.

Other measures

In addition to the curfew, the government has taken a number of other measures to reduce the infection rate, delay the spread of the original and new coronavirus variants and prevent new variants from being introduced into the Netherlands as much as possible. The government is also asking people to stay at home and to work from home wherever possible, and to limit the number of people they meet.   For more information: https://www.government.nl/latest/news/2021/01/22/night-time-curfew-as-of-saturday-23-january   Photo: Louise and Nic Unsplash  
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Swe-Cham Member Budbee, Raises SEK 525M In An Investment Round Led By AMF

Budbee (), the logtech startup which offers a sustainably-focused delivery service committed to maximizing customer satisfaction and efficiency of ‘the last mile’, has raised SEK 525M in an investment round led by AMF, one of Sweden’s leading pension companies and one of the largest owners on Nasdaq Stockholm. AMF is investing SEK 240M in Budbee and becomes one of the company’s three largest shareholders.

Existing investors Stena Sessan, Kinnevik, and H&M CO:LAB all participated in the investment round, which takes Budbee’s total funding to-date to SEK 925M.

Budbee will use the funding for international expansion, and to invest in technology and processes that will further enhance the sustainability aspects and customer experience of its services.

Budbee, which currently operates in its native Sweden, the Netherlands, Denmark, and Finland, has solved the last mile challenge through a purpose-built technology platform offering a new level of sustainability and convenience. As a consequence of its innovation, the Stockholm-headquartered company is the market leader within the Nordics and has experienced rapid growth since launching in 2015.

Budbee coordinates millions of deliveries every month, an increase of over 200% compared to last year, and is relied upon by independent e-commerce store owners as well as major brands such as ASOS, Zalando, and H&M.

Budbee has also proven to be a valuable investment for merchants who choose the service as their default delivery method, on average increasing their order value, returning customers, and purchase frequency.

“When I founded Budbee in 2015, my team and I quickly recognized the enormous potential of technology to transform e-commerce deliveries,” says Fredrik Hamilton, Budbee Founder and CEO. “Today we have built a service that is loved by millions of people in Sweden, The Netherlands, Denmark, and Finland. AMF is one of Sweden's leading pension companies and we are very happy to welcome them on board as a long-term owner, supporting our ambition to expand and improve e-commerce shopping for millions more within Europe.”

“Budbee is a very interesting Swedish company with competitive smart solutions in an industry with high structural growth. Their sustainability ambitions, with the goal to make all transports fossil-free by 2022, contributes to the company's attractiveness and future prospects. We look forward to becoming a long-term and active owner in Budbee during their continued growth journey.”, says Anders Oscarsson, Head of Equity, AMF.

Fredrik Konopik, Investment Director, Stena Sessan commented: “Budbee has shown tremendous growth over the last couple of years and the team has made important investments in order to meet the increased and growing demand for climate-smart deliveries. We are excited to see that the company has strengthened its capital base further with support from existing shareholders and AMF as a new investor, creating an even stronger foundation for continued and sustainable growth going forward.”

Kinnevik CEO, Georgi Ganev commented: “Last-mile delivery is key to customer satisfaction in e-commerce, and Fredrik and his team have built Budbee into the go-to option for a frictionless last-mile delivery experience across its markets. We are excited to partner with AMF in this funding round to continue Budbee’s successful expansion in new and existing markets, as well as the expansion of its product suite to Budbee Boxes”.

Nanna Andersen, Head of CO:LAB H&M Group commented: ”We are excited to continue our investment in Budbee and to be part of their successful journey. We truly believe in the team and look forward to jointly offer services that enable an even better customer experience for our customers”

Carnegie Investment Bank and Nordea Bank Abp, filial in Sweden, have acted as financial advisors to Budbee in connection to the investment round.

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Swe-Cham Member UP THERE, EVERYWHERE celebrates 10 years
The Swedish Chamber of Commerce is very pleased to congratulate Swe-Cham member UP THERE, EVERYWHERE - The Global Cloud Based Agency with their 10th Anniversary. Thank  you for the pleasent collaboration during the years and we are looking forward to many more to come. We are happy to share UP THERE, EVERYWHERE's interview with Julian Stubbs, UP CEO and and one of the two founders of the agency.     This week marks the tenth anniversary since the creation of UP THERE, EVERYWHERE – The Global Cloud Based Agency. We interviewed Julian Stubbs, UP CEO and one of the two founders of the agency. Julian, a ten year anniversary and ten million euros in sales. That's a nice coincidence.  Julian: Yes, well it's closer to eleven million euros in sales but ten and ten make a better headline! Then will it take another ten years to get to €20 million euros in sales?  I hope not. Actually we've had a couple of real growth spurts during the ten years, and in the last three years we have doubled our size. We believe with our business model we are capable of doubling in size again more easily. Our strategy is a really simple one: Everything Everywhere. Basically offering an ever wider range of services, wherever our clients want them. This will really fuel our growth. Added to this we made our first acquisition back in 2019, when we bought the UK digital agency DPC, now . We have a number of other similar initiatives we're looking at.   To read more:
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