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Adjustment of the new additional budget with a proposal to reduce retroactive taxes on agricultural diesel

Today the government presented a new supplementary adjustment budget with proposals to cut back taxes on agricultural diesel. The government decided to withdraw the budget submitted on June 2 with the same content, when Parliament did not take a decision on the government’s revised spring budget. This is because proposals for a reduced tax retroactively assumed that the Swedish parliament would approve the proposals in the spring amendment budget.

In the proposal, which has now been submitted again to the Swedish Parliament, the tax on diesel for agriculture, forestry and aquaculture would be retroactively reduced. This is done through the temporary expanded reduction of the carbon dioxide and energy tax proposed in the Spring Amendment budget retroactively from January 1 this year.

Prices of many important agricultural inputs rose sharply, not least as a result of the Russian invasion of Ukraine. The situation in Sweden and the rest of the world means financial pressures on companies that practice agriculture, forestry and aquaculture in Sweden. In order to provide rapid support to companies in these important industries, and to mitigate the sharp cost increases these companies have experienced since the beginning of the year, it is important that companies operating in the agribusiness, forestry and aquaculture industries receive an enhanced retroactive tax reduction on diesel from and to January 1 2022.

With the measures proposed in the government’s amendment spring 2022 budget, this means that the companies involved will receive an increase in the tax refund on diesel use during the period from January 1, 2022 to June 30, 2023.

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In aggregate, the proposal to reduce the retroactive tax on diesel in agriculture, forestry and aquaculture is expected to reduce tax revenue by SEK 0.39 billion in 2022.