European Union Gazettes EC Decision Approving Extension, Amendment of Swedish Maritime Transport Tonnage Tax Regime

The European Union Official Gazette May 29 published the European Commission (EC) decision on State Aid Case No. SA.118588, approving the extension and amendment of the Swedish tonnage tax regime for the maritime transport sector. The amendments include measures: 1) extending the regime for 10 years from Jan. 1, 2027; 2) setting an overall budget of approximately 1.1 billion euros (US$1.3 billion), and annual budget of approximately 110 million euros (US$126.8 million); 3) allowing eligible maritime undertakings to opt for tonnage taxation over ordinary corporate income taxation; 4) setting conditions for revenue, activities, and vessels, and allow the regime to ...