Close
An overview from Borenius, Taxand Finland:
The Finnish Ministry of Finance has recently published a draft legislative bill proposing several changes to VAT and insurance premiums. The standard VAT rate is set to increase from 24% to 25.5%, and the insurance premium tax rate will also rise from 24% to 25.5% for insurance periods starting on or after 1 September 2024.
Additionally, the government plans to increase the reduced VAT rate from 10% to 14%, except for newspapers and periodicals. VAT on female sanitary products and diapers is proposed to decrease from 24% to 14%, while tax on candies and chocolate will increase from 14% to 25.5%.
For a detailed analysis of these changes, Henna Jovio and Anna-Riikka Nummi from Borenius, Taxand Finland, provide further insights here.
For similar content to our Global Guide, subscribe to our mailing list and keep up to date.