03 April 2020 – Provided temporary tax cuts to sole proprietors

Intervention Categories: Finance policy and financial aid; Fiscal policy; Stimulus packages and financial support
Level of Jurisdiction: National

Overview: The Swedish Government introduced a temporary change to tax rules so that sole proprietors severely affected by the COVID-19 outbreak will receive tax cuts.

All taxable profits for 2019, up to SEK 1 million, can be set aside in the tax allocation reserve and then be set off against possible future losses. This means that many people will be able to get back the preliminary tax they paid in 2019.

The tax cut is applicable to sole traders and natural persons who are partners in Swedish partnerships.
Full details here: https://www.regeringen.se/artiklar/2020/03/om-forslaget-skattelattnader-till-smaforetagare-genom-utokad-avsattning-till-periodiseringsfond/