Finland Parliament Considers Bill to Amend Business Income Taxation Act

The Finnish Parliament (Eduskunta) Oct. 6 accepted for consideration Bill No. HE 202/2022 vp, to amend the Business Income Taxation Act. The bill includes measures to: 1) change the interest deduction limitation rule with respect to artificial income, to enable a partially or wholly privately-owned entity implementing a long-term public infrastructure project for a public entity, to deduct non-deductible net interest expenses, subject to conditions and retroactive from tax year 2019; 2) specify a Jan. 2, 2023, deadline for such privately-owned entities to submit tax adjustment claims for tax years 2019-2022; and 3) preclude application of the balance sheet exemption ...