- Standard VAT rate in Finland to increase from 24% to 25.5% as of 1 September 2024
- Rate increase expected to strengthen public finances
- Changes to reduced VAT rates also being prepared
- New standard VAT rate applies to goods and services currently subject to 24% VAT
- Advance payments received before 1 September 2024 subject to 24% VAT, those received on or after subject to 25.5% VAT
- Changes to reduced VAT rates may come into effect from 1 January 2025
- Government plans to increase reduced VAT rate for certain goods and services from 10% to 14%
- Rate increase will not apply to newspapers and magazines
Source: taxathand.com
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.
