Finland Tax Agency Posts Preliminary Ruling Clarifying Individual Income Taxation of Endowment Insurance Savings Withdrawals

The Finnish Tax Administration April 15 posted online Central Tax Board Preliminary Decision No. KVL:2026/10, clarifying the individual income taxation of withdrawals from endowment life insurance policy savings. The taxpayer, an individual, took out an endowment life insurance policy, naming their child as the insured. The policy gave the taxpayer the right to make withdrawals from the insurance savings while the insurance was still in force. The taxpayer sought clarification on individual income tax treatment. Upon review, the Central Tax Board clarified that: 1) the withdrawals were excluded from income under the Income Tax Act, insofar as the amounts were ...