Aliisa, Hennamari & Ella

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Presentation transcript:

Aliisa, Hennamari & Ella Taxation in Finland Aliisa, Hennamari & Ella

Ways of taxation Earned income tax Indirect income tax Progressive Tax card tells the taxation rate (6,5-31,75%) Indirect income tax Social security contributions (2,12%) Value added tax (VAT) Products and services 24% (food 14%) Excise tax: tobacco, alcohol, etc.

Ways of taxation pt. II Investment income tax Corporate tax Dividends, rents and capital gains >50 000€  30-32% Corporate tax Rate 20,0% Property tax Levied annually on the present market value Usually about 0,60-1,35%

The usage of tax money Health care Education Day care Defence Unemployment allowance Parental allowance Pensions Study grant

Refunds and back taxes Back taxes Tax refund Not enough taxes paid Too much taxes paid

Deductions Reduce the taxes you must pay Reduce the taxable income Household expenses Child maintenance Reduce the taxable income Daily travelling expenses

Taxation for foreigners Taxes paid to Finland 6 months or less Tax rate 35% Tax-at-source card, deduction 17€/day >6 months Tax rate changes to progressive Ordinary tax card

Sources http://www.infopankki.fi/en/living-in-finland/work-and- enterprise/taxation https://www.vero.fi/en-US/Tax_Administration https://en.wikipedia.org/wiki/Taxation_in_Finland Picture: http://www.samulivoutila.com/wp- content/uploads/2016/11/verokarhu.jpg