Finland Parliament Considers 2023 Budget Bill

The Finnish Parliament (Eduskunta) Sept. 19 accepted for consideration Bill No. HE 154/2022 vp, the 2023 budget containing provisions drafted due to the ongoing Russia-Ukraine conflict, high inflation, and the energy crisis. The bill includes measures to: 1) reduce VAT on electricity to 10 percent, from December 2022 to April 2023; 2) reduce VAT on passenger transport services to zero percent, from January to April of 2023; 3) implement a temporary electricity income tax deduction; 4) introduce an R&D tax incentive based on an additional deduction, from 2023; 5) adjust index income tax brackets across all levels; 6) continue semi-annual ...