Government’s VAT Hike: Impact on Low-Income Earners in Finland

• Statistics Finland warns that the government’s VAT hike will hit low-income earners the hardest
• The increase in the general value added tax rate will widen the gap between high and low income levels
• Lower-income earners will spend 0.71 percentage points more of their income on VAT due to the hike
• Higher-income earners will only experience a 0.41 percentage point increase in VAT spending

Source: yle.fi

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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