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Information about taxes and declaring royalties
Information about taxes and declaring royalties
Goms avatar
Written by Goms
Updated over a week ago

How you should handle and declare income generated from your music on Record Union depends on the country you live in.

If you are a company or a private person outside of Sweden

Because Record Union is based in Sweden, we are required to provide the Swedish tax authorities with information about the royalties you have generated through our service, even if you are a person or company located outside Sweden.

However, the tax authorities do not disclose whether this information will be exchanged with tax authorities in your country.

We recommend following your country's rules and guidelines for how to report this type of income in your country. The tax authorities in your country should have this information available on their website. Otherwise, you can contact them directly or consult a tax adviser for clarification.

If you are a company or a private person located in Sweden

If you are a person or company located in Sweden, you will not need to manually declare your income from Record Union to the tax authorities. Record Union automatically sends this information to the tax authorities every year.

For this reason, it is very important that the personal ID (personnummer), tax ID, or company registration number you have supplied is correct. The Swedish tax authority will process this information and it will appear on your tax declaration so you can review and approve it.

Because you are earning royalties from musical works or recordings, you are considered to be conducting a business activity. As such, it is important to note that you will be liable to pay taxes for this business activity (KU70). The only exception to this is if you have earned royalties from only one (1) song/work/recording. In that case, you will be taxed as a private person (KU10).

What is a Value Added Tax or VAT number?

A VAT number (or Value Added Tax identification number) is a number used by many countries, including the countries of the European Union, for the purpose of taxing goods and services through what is referred to as a Value Added Tax.

Because Record Union is a company based in the EU, we need your company's VAT number in order to issue royalty payments. This number is required for us to comply with the EU regulations governing sending payments to other companies.

Not sure what your VAT number is?

VAT numbers may have a different name in the country you are located in.

Please see this Wikipedia article which provides additional country-specific information concerning VAT numbers.

โ€‹Do I need to add my Tax Identification Number?

Yes. To get more info on what a TIN is for private individuals and companies, please see the links to the articles below.

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