- Finland has raised its standard VAT rate from 24% to 25.5% effective from 1 September 2024
- Tax point rules determine when the new VAT rate applies
- E-commerce businesses using the EU’s One Stop Shop (OSS) must apply the higher rate from 1 September 2024
- Advance payments affect the VAT rate, with different rules for Import Scheme of the OSS (IOSS) and Union scheme
- Reporting for Q3 2024 will require businesses to fill in two different lines due to the change in VAT rate
Source: grantthornton.nl
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.
