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An overview by Borenius, Taxand Finland
Finland’s Ministry of Finance has recently published a draft legislative bill proposing changes to the application of the reduced 10% and 14% VAT rates.
Many goods and services subject to the 10% VAT rate such as passenger transport services, admission fees, medicines and books will increase to 14%, except for newspapers and magazines, which will remain at 10%. Additionally, items like menstrual products and children’s diapers will have their VAT reduced from 24% to 14%. These changes are open for public comment until 19 August 2024.
Henna Jovio and Anna-Riikka Nummi from our Finnish member firm Borenius has published an article examining the changes in more detail here.
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