Finland MOF Seeks Comments on Proposal to Temporarily Amend Income Tax Deductions, Tax-Free Employee Incentive

The Finnish Ministry of Finance May 8 opened a consultation on a draft proposal to temporarily amend income tax deductions and tax-free employee incentives under the Income Tax Act. The proposal includes measures to: 1) increase to 2,100 euros (US$2,472), from 1,600 euros (US$1,883), the maximum individual income tax deduction for household expenses, for tax years 2026 and 2027; 2) increase the individual income tax deduction for service compensation to 40 percent, and to 15 percent for wages, for tax years 2026 and 2027; 3) reduce to 800 euros (US$941), from 900 euros (US$1,059), the deduction for travel expenses, for ...