Companies should be able to receive support based on a loss of turnover. The support shall be administered by the Tax Agency and companies may be liable for repayment if incorrect information is provided.
Another support measure has now been presented, a turnover support based on loss of turnover. The support is similar to that in Denmark and Norway and is described by Minister of Finance Magdalena Andersson as a very precise support.
"We have been working to find support that is both accurate and legally sound, and I am very happy that we have found this now," says Magdalena Andersson.
For the company to qualify for the support, a turnover of over SEK 250,000 and a loss of at least 30 percent are required. The company must have F-tax registration and conduct business activities in Sweden, and the same requirements that apply to short-term layoff subsidies also apply to the transition support.
- Support does not cover companies that are subject to reconstructions, are insolvent or have tax debts, says Emil Källström, Centre Party.
According to the government and its coalition partners, the support is aimed at a large portion of Sweden's businesses, with approximately 180,000 businesses expected to be eligible. The support is designed so that it:
- Based on fixed costs in March and April 2020.
- The subsidy rate depends on the turnover loss.
- A cap of 150 million kronor per company has been set.
The payment will be made via the Swedish Tax Agency, and the authority will reclaim support that has been paid out on incorrect grounds. The Swedish Tax Agency may examine a company's operations both upon application and during post-grant inspection. If untrue information has been provided, the business owner may be sentenced to a fine or imprisonment.
Charlotta Marténg
Read more Government press release on the transitional support
This article is published in co-operation with Results magazine.
