- Ministry of Finance proposes raising VAT from 24.0 to 25.5 per cent on 1 September
- Decision does not affect lower VAT rates of 10 and 14 per cent
- Supplementary budget draft aims to reduce borrowing by almost 300 million euros
- Tax revenue projection downgraded by 221 million euros due to economic situation
- VAT hike expected to increase revenue by roughly 180 million euros in 2024
- Budget draft includes investments in transport infrastructure and homelessness elimination program
- Fiscal adjustments necessary to prevent deficit from reaching 3.5 per cent of GDP in 2024
Source: helsinkitimes.fi
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
