Finland V.A.T. and Other Taxes





Finland Value Added Tax

  • In most cases the standard VAT is 24%.
  • There are reduced rates of VAT of 14% charged on food restaurants and catering and a super reduced rate of 10% charged on public transport services, books ,minor repairs and medicines.
  • VAT is charged on assets and services in Finland as well as on imports into Finland.
  • VAT returns are made monthly, the payment being due on the 15th of the month after the month of the report.
  • There is an obligation to report to VAT authorities when the annual turnover is in excess of EURO 10,000.




Inheritance Tax/Gift Tax

  • Tax is payable in Finland on both an inheritance and on gifts on the application of fairly similar tax principles.
  • When either the donor of the gift/the testator or the recipient of the gift/the heir is a Finnish resident, the tax is also applicable to overseas assets.
  • When neither the donor of the gift/the testator or the recipient of the gift/the heir is a Finnish resident, the tax applies only to real estate in Finland or shares in a company of which 50% of its assets are real estate inside Finland.
  • When the tax is applicable in a foreign country, the overseas tax will be credited against the tax due in Finland unless it refers to real estate in Finland.
  • As a general rule, recipients of gifts / heirs are divided into two groups:
    - Group 1 - a spouse, children, grandchildren and parents.
    - Group 2 - all others.
  • In general, the rate of tax for Group 2 is much higher than Group 1.
  • The rates of inheritance tax for Group 1 in EURO are as below:




Taxable Income Tax on the Lowest Bracket % Tax - Balance
0 - 20,000 0 0
20,000-40,000 100 7%
40,000-60,000 1,500 10%
60,000 -200,000 3,500 13%
200,000-1,000,000 21,700 16%
Over 1,000,000 149,700 19%


  • In Finland there is a Double Tax Prevention Treaty on inheritance tax with the Nordic Countries, the United States of America, Holland, France and Switzerland.
  • In Finland there is a Double Tax Prevention Treaty on gifts tax with the Nordic Countries and with Greece only in the case of real estate.




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