Finland Tax Agency Clarifies Asset Transfer Tax on Transfer of Securities

The Finnish Tax Administration Jan. 12 posted online updated Guidance No. VH/1540/00.01.00/2023, on securities transfer taxation. Topics covered include changes in the Transfer Tax Act effective Jan. 1. The updated guidance includes: 1) the impact of the developer’s bankruptcy on the transfer tax for new properties; 2) reporting and paying transfer tax deadlines in minority share redemptions; 3) the 1.5 percent reduced tax rates for securities, effective for transfers from Oct. 12, 2023; 4) developer’s bankruptcy impact on the transfer tax for new properties; 5) situations in the Fund Transfer Tax Act where tax exemption doesn’t apply; and 6) guidelines ...