Finland to Increase Standard VAT Rate to 25.5% in Budget Plans for 2025-2028

• Finland raises standard VAT rate from 24% to 25.5%
• Increase to come into effect by 1 September 2024
• Efforts to stabilize public finances
• Certain food items high in sugar to see significant VAT increase
• Soft drinks, tobacco, and select alcoholic beverages to face additional levies
• 14 percent VAT rate to be maintained for other food products and restaurant meals
• No changes to 10 percent rate for medicine, accommodation, books, and cultural events
• Draft law under comments period, expected to be submitted to parliament by end of May 2024

Source: marosavat.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.

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