Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 6/15/2012

Finland - Proposals to increase rates, expand R&D, new indirect taxes 

June 15:  Among the proposals being considered in a legislative framework for 2013-2016 are measures that would:
  • Increase the tax rates for “high salaries” (annual earned income greater than €100,000) and pensions
  • Increase the rate of value added tax (VAT) by 1% in 2013
  • Increase the the tax imposed on insurance fees, to the equivalent of the general VAT rate of 24%
  • Increase to current transfer tax rate of 1.6% for transfers of shares in housing companies and transfers of shares in property companies to 2%
  • Provide tax incentives for private investments made in non- listed growth enterprises
  • Provide a temporary corporate tax incentive for personnel costs related to research and development (R&D)
  • Increase the depreciation rates for investments related to production assets
  • Introduce two new indirect taxes—a tax on banking activities (to be effective in 2013) and a “windfall” tax (to be effective in 2014)

Finland’s Council of State issued its decision on the framework for the budget proposals in early April 2012.


To read a June 2012 report, prepared by the KPMG member firm in Finland: Increased taxes on high salaries, VAT and new indirect tax legislation?




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