The Swedish Ministry of Finance Sept. 11 announced a budget proposal to temporarily increase the tax deduction limit for labor costs for repairs, conversions, and extensions of real property (ROT), to support the construction and housing sector. The proposal includes measures to: 1) temporarily increase the ROT deduction limit to 75,000 Swedish kronor (US$6,751) per person, from 50,000 kronor (US$4,501) per person, from July 1, 2024, and applicable to all of 2024; 2) limit the use of capital deductions to 50,000 kronor during the first half of 2024; and 3) apply separate limits of 75,000 kronor each for ROT, and ...
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