Global

Details

  • Service: Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 6/19/2013

Finland - Proposed tax changes for 2014-2017 

June 19:  Under the proposed plan of Finland’s government for 2014–2017, changes proposed to corporate and capital income taxation include:
  • A reduction in the rate of corporate income tax to 20%, effective for the 2014 tax year
  • Repeal of tax incentives enacted for 2013-2015 concerning additional deductions for research and development (R&D) costs and additional depreciation on production-related investments, with repeal to be effective at the end of 2014
  • Repeal of a deduction currently allowed companies for up to 50% of their representation costs
  • Rules requiring itemization of depreciation of long-term investments
  • Limitation of company’s right to deduction interest expenses
  • Changes to the taxation of dividends received by individuals, including a proposal that 85% of dividends received from listed companies being taxed as capital income
  • Introduction of a windfall tax in 2014
  • Changes to earned income and to the inheritance and gift tax regimes

The government’s proposals currently do not include changes to the value added tax (VAT), but do propose increases to several excise tax rates.


Read a June 2013 report prepared by the KPMG member firm in Finland: Government’s decision on spending limits for years 2014–2017




©2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now

Contact us