The Swedish Tax Agency has declared an announcement that tax will be imposed on excessive profits of electricity producers from 1st March 2023 to 1st June 2023 for a limited time period. The recently implemented measure aligns with the guidelines outlined in the European Union’s Regulation 2022/1854 concerning an emergency intervention for managing high energy prices.it has been established that electricity producers with income exceeding SEK 1,957 per megawatt-hour will be subject to a tax rate of 90%. The tax on excess income must be paid by electricity producers who generate power from various sources such as wind energy, thermal solar energy, solar cells, geothermal energy, waste, nuclear energy, lignite (brown coal), crude petroleum products, peat, solid or gaseous biomass fuels (excluding biomethane), and hydropower without reservoirs. If their installed capacity exceeds 1 megawatt or the equivalent for solar energy, producers of electricity must register. It is mandatory to submit declarations every month between 1 March and 30 June 2023 with a deadline of the 26th of the following month. The declaration must be submitted for every month, even there is no excess income generated from electricity.
Related Posts
Sweden consults crypto reporting rules under DAC8 Directive
Sweden’s Ministry of Finance has introduced a proposal to implement Council Directive (EU) 2023/2226 (DAC8), which outlines new reporting and due diligence requirements for crypto-asset service providers. The Ministry is inviting public feedback
Read MoreSweden gazettes law amending Pillar Two global minimum tax
The Swedish Official Gazette published Law No. SFS 2024:1248 on 11 December 2024, amending the Additional Tax Act to implement the Pillar Two global minimum tax into domestic law. The new regulations are set to come into force on 1 January
Read MoreBrazil: Chamber of Deputies approve tax treaty with Norway, amending protocol with Sweden
The Brazilian Chamber of Deputies approved an amending protocol with Sweden on 26 November and a tax treaty with Norway on 27 November. Signed on 4 November 2022, the agreement with Norway aims at avoiding double taxation of income and
Read MoreSweden terminates 1993 tax treaty with Russia
As reported recently, Sweden has informed Russia of its decision to suspend the application of the 1993 income tax treaty between the two nations, effective from 1 February 2025. Earlier, the Swedish government presented a bill, the Repeal Act,
Read MoreSweden moves to suspend income tax treaty with Russia
The Swedish government has presented a bill, the Repeal Act, to the Parliament with the intention to annul Act (1993:1301) concerning the Income and Capital Tax Treaty between Russia and Sweden on 24 October 2024. Earlier, Russia suspended
Read MoreSweden presents bill to amend Pillar Two rules
The Swedish government has presented a final draft legislation to Parliament, released on 15 October 2024, which recommends amendments to its law for implementing the EU's global minimum tax directive, including the introduction of several Pillar
Read More