On 23 March 2023, Finnish President signed a law introducing temporary excess profit taxes on electricity and fossil fuel companies. The temporary taxes generally apply for the tax year 2023.
Under the law, an additional 30 % profit tax will be imposed on electricity companies and an additional 33 % profit tax will be charged on companies in the fossil fuel sector on top of the standard 20% corporate tax rate. The Act came into force on 24 March 2023.
Related Posts
Finland’s government has submitted a legislative proposal (HE 186/2024) to the parliament on 7 November 2024 to amend the television tax levied on individuals and businesses and the VAT applied to public broadcasting services. The draft
Read More Finland’s Ministry of Finance initiated a public consultation on 4 October 2024 on a draft proposal to revise the TV Tax for individuals and businesses and to adjust the VAT on public broadcasting services. The consultation is set to conclude
Read More Finland’s Ministry of Finance submitted its proposal for the 2025 Budget and other related legislative proposals to the Parliament on 23 September 2024. The budget’s central government expenditure amounts to EUR 88.8 billion and revenue to EUR
Read More
Finland's government presented the draft legislation HE 98/2024 vp to the parliament to amend the Minimum Tax Act on 20 September 2024. The Minimum Tax Act was enacted at the end 2023 to facilitate the implementation of the Pillar Two global
Read More Finland's Ministry of Finance has initiated a public consultation regarding a tax credit aimed at large industrial investments that facilitate the transition to a net-zero (climate-neutral) economy. The government decided on the preparation of the
Read More The Finnish Government announced the 2025 Budget on 3 September 2024. This release outlines several tax policy decisions that align with the draft budget proposals introduced by the Ministry of Finance in August 2024. The government is moving
Read More
