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Finland Provides Temporary VAT Rate Reduction for Electricity and Exemption for Passenger Transport

Finland has published Law 870/2022 of 28 October 2022 on the temporary amendment of the Value Added Tax Act. The amendments include a temporary reduction in the VAT rate from 24% to 10% on electricity supplies with effect from 1 December 2022 to 30 April 2023. Further, a temporary VAT exemption is provided on all currently taxable passenger transport services with effect from 1 January 2023 to 30…..

Source: Orbitax

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