Finnish Government Confirms VAT Rate and VAT Threshold Changes

• The Finnish government has confirmed a VAT rate increase from 24% to 25.5% effective September 1, 2024, pending approval by Parliament.
• The Insurance Premium Tax rate will also align with the new VAT rate. The VAT rate for sweets and chocolate will rise from 14% to 25.5%.
• The increase aims to prevent the country from breaching the Euro currency membership rule.
• There are plans to reclassify certain goods and services for VAT rates in 2025, as well as increase the VAT registration threshold to €20,000 per year starting January 1, 2025.

Source Taxually

See also

• What are the VAT registration thresholds in the Member States of the European Union?

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