Sweden Tax Agency Clarifies Income Tax Reduction for Installation of Green Technology

The Swedish Tax Agency Oct. 24 issued Clarification No. DNR 8-1963873, on the availability of tax credits for advance payments for the installation of renewable energy technology. The clarification explains that: 1) the credit applies to installations that are completed and fully paid; 2) a system for storing self-produced electricity is a separate installation eligible for the credit, even if the solar cells haven’t yet been installed; 3) solar cells or batteries are separate installations eligible for the credit, even if the facility hasn’t yet connected to the grid; 4) for advance payments, contractors must apply for the credit only ...