- Finland reforms VAT and insurance premium tax rates
- General VAT and IPT rates to increase to 25.5%
- Reforms to take place within two months
- New rates effective from 1 September 2024
- Transitional rules for applying new VAT rate
- Criticism on tight schedule and challenges for businesses
- Planned multiple tax-rate changes in stages
- Commodities taxed at 10% to move to 14% VAT rate from 1 January 2025
- Rate increase for candies and chocolates to general VAT rate in 2025
- Change for menstrual protection products, incontinence pads, and children’s diapers to 14% VAT rate from 1 January 2025
- Implications for companies to review contracts, price lists, and invoice texts
Source: globaltaxnews.ey.com
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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