- Finland is consulting on increasing the general VAT rate and insurance premium tax rate by 1.5 percentage points
- The goal is to improve public finances and curb debt growth
- The general VAT rate would increase from 24% to 25.5%, with the insurance premium tax rate also increasing by 1.5 percentage points
- The changes are planned to take effect on September 1, 2024
- The consultation period will continue until May 17
- The government plans to submit the proposal to Parliament in late May 2024
Source:
- Join our Linkedin Group on ”VAT Rates – Legislative changes”, click HERE
- Global Upcoming VAT Rate changes – Chronological, click HERE
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.
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