Finland Tax Agency Updates Guidance on VAT for Books, Newspapers, Magazines

The Finnish Tax Administration Jan. 14 issued Guidance No. VH/2161/00.01.00/2022, with updated information on the application of VAT to books, newspapers, magazines, and similar materials. Topics covered include: 1) definitions of relevant terms; 2) the increased 14 percent VAT rate for sales, corporate acquisitions, and imports of books, from Jan. 1; 3) that the 25.5 percent general VAT rate applies to sales of paid podcast subscriptions; 4) the right to deduct VAT from the price of newspapers, magazines, and books purchased for business purposes; 5) VAT liability for previously deducted goods used for personal use; and 6) the rules for ...