Finland - Pricing Finland - Pricing
The main taxes for businesses are corporation tax (profit tax) and real estate tax. Corporate tax is an income tax collected from limited companies and other corporations. The tax is levied on the taxable income of a corporation calculated by subtracting the deductible expenses of the corporation from its taxable income. The corporate income tax rate was lowered from 24.5 percent to 20.0 percent in January 2014.
All goods and services are subject to a value-added tax (VAT), an indirect tax assessed as a percentage of the value of all goods and services, unless specifically exempted. The general rate is 24 percent on industrial goods; 10 percent on books, drugs, pharmaceuticals, cinema tickets, passenger transportation, accommodation services, cultural and entertainment events, subscriptions of newspapers and periodicals, and TV licenses; 14 percent on foodstuffs and animal feed, and restaurant and catering services.
Excise duties are product-specific, and the amount of duties assessed is based on the number of products consumed in taxable use or products supplied for taxable use. Excise taxes are levied on alcohol and alcoholic drinks, beer, tobacco, liquid fuels, electricity and certain fuels and soft drinks. Muncipal waste tax, beverage packaging tax and oil discharges are also subject to excise taxes, Vero Excise taxation.
Duties on goods from non-European countries are relatively low, especially for manufactured goods, ranging from 2.61 percent or 4.17 percent. However, textile and clothing items still have high duties and quotas. For further information, please visit the European Online Customs Tariff Database (TARIC).