The Finnish Ministry of Finance Aug. 9 proposed the 2025 budget draft. The proposal includes measures to: 1) increase the standard VAT and insurance premium tax rates to 25.5 percent from 24 percent, effective Sept. 1; 2) increase the lower VAT registration threshold for small businesses to 20,000 euros (US$22,075) from 15,000 (US$16,556; 3) transfer to the 14 percent VAT rate goods currently subject to the reduced 10 percent rate, except newspapers and magazines, and make various rate changes; 4) tighten the pension income reduction by reducing the household deduction; 5) subject earnings tax bases, other than the top two, ...
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