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Sweden Introduces Temporary Tax on Excess Income of Electricity Producers

|Approved Changes|Sweden
Sweden

The Swedish Tax Agency has issued a release announcing that a new tax on the excess income of certain electricity producers is introduced from 1 March to 30 June 2023. As previously reported, the tax is in line with Regulation (EU) 2022/1854 of 6 October 2022 and is levied at a rate of 90% on the income of electricity producers exceeding SEK 1,957 per megawatt-hour. Electricity producers must pay the tax on excess income if the electricity is produced in Sweden from wind energy, thermal sola…

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