GLOBAL PAYROLL MAGAZINE
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and can generate, it is in the interest of all parties; employee, employer and society. Automated and standardized data extraction from source systems helps improve the accuracy of reports, decreasing the likelihood of human error or inconsistencies in data submissions.
reporting system where employers report payroll, tax, and social security contributions monthly at the individual level. This provides real-time payroll data to Skatteverket (The Swedish Tax Agency) and replaces the previous system of annual declarations, allowing authorities to spot errors or irregularities more quickly and enabling faster, more accurate tax processing for individuals. By 1 January 2025, information about parental leave will be included in the AGI. In 1974, Sweden became the first country in the world to have universal parental insurance. It allowed both mothers and fathers to be free from their jobs to care for their newborn children. From 1 July 2024, a transfer of a maximum of 45 parental allowance days can be made to someone who is not a partner or the child’s guardian. The person to whom days are given must be insured in Sweden. “By linking payroll to SBR, companies can reduce administrative workload and enhance the accuracy of their reporting, creating a more streamlined
The Strategic Importance of Payroll Reporting
To enable faster data submission and, in some cases, real-time updates can lead to improved decision-making for both businesses and regulators, who gain faster access to critical financial data. The awareness of payroll in society outside our payroll world has increased. The peak for the acknowledgement so far was probably during COVID. Then the reporting from payroll to company boards for strategic decisions as well as to governments for state business support was crucial. Sadly, the feeling is that we’ve fallen back. However, we have all the reasons to take back the position!
Author: Zennie Sjölund
Zennie Sjölund is a well-known and highly respected figure in Global Payroll. She is the Sweden-based Divisional Director Payroll of Srf konsulterna - the association of Swedish Accounting and Payroll - and has 20 years of payroll industry experience with a special focus on payroll intelligence and trendspotting.
and transparent payroll process.”
That is another reason for getting more control of absence and withdrawal since parental leave is a lawful absence
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