Finland Gazettes Law Temporarily Reducing Energy, Transportation VAT Rates Under 2023 Budget Due to War

The Finnish Official Gazette Oct. 31 published Law No. 870/2022, temporarily reducing specific VAT rates for energy and transportation under the proposed 2023 state budget and supplemental budget due to the ongoing Russia-Ukraine conflict, inflation, and increased energy prices. The law includes measures: 1) reducing the VAT rate on sales of household electricity to 10 percent from the general 24 percent rate from Dec. 1, 2022, to April 30, 2023; and 2) reducing the VAT rate on domestic passenger transport services to zero percent from the reduced 10 percent rate, from Jan. 1, 2023, to April 30, 2023, and providing ...