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Finnish SMEs Call for Delay in VAT Rate Increase Implementation Until October 2024

  • Suomen Yrittäjät, the Finnish SME association, is calling for a delay in the higher VAT rate implementation
  • The Government proposed a VAT rate increase from 24% to 25.5% on 1 September 2024
  • Suomen Yrittäjät says the new rate is challenging for small businesses and calls for a delay until at least 1 October
  • The change in VAT creates administrative costs for companies and requires updates to their systems
  • Smaller businesses will face a tax increase from the start of 2025
  • Suomen Yrittäjät is concerned about the impact of the VAT increase on SMEs and calls for compensation for the scrapped VAT relief scheme.

Source: yrittajat.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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