Financial aspects

Here you can find out about economy and financial matters such as inheritance and taxation

Income tax and statement of annual earnings

STIM does not deduct taxes from the money it distributes.

A statement of annual earnings is sent in January each year. Save the statement, you will need it for your tax return.

Power of attorney

When a creator signs an agreement with a music publisher, an advance is sometimes paid to the creator.

The creator then signs a power of attorney document agreeing that he or she authorises all money from STIM and NCB to be paid directly to the music publisher until the advance has been repaid. STIM registers the power of attorney, and it remains in place until the music publisher terminates the power of attorney in writing to STIM.

Limited power of attorney

Sometimes power of attorney may only apply for particular works. In these cases the music publisher submits a list of titles, along with the signed power of attorney agreement. STIM ensures that the music publisher only receives money for those works, while the rest of the money from STIM goes directly to the creator.

Inheritance

When a music creator affiliated to STIM dies, the heirs are entitled to receive royalties for the creator's work for 70 years. STIM pays remuneration to the heirs listed in the estate inventory.

STIM therefore requires a copy of the first page of the estate inventory, where that information is provided. Once the transfer is complete, we also need a copy of the relevant official document.

Documents should be sent to:

STIM
Member Services
Box 27327
SE-102 54  Stockholm, Sweden

 

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