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Finland Includes Electricity Price Relief and Windfall Tax Plans in 2023 Budget

|Proposed Changes|Finland
Finland

Finland's Ministry of Finance has issued a release on the government's budget proposal for 2023. The main tax-related measures noted in the release concern rising electricity prices and include a reduction in the VAT rate on electricity to 10% with effect from December 2022 to April 2023. Further, a temporary electricity deduction for income tax purposes is being prepared, as well as a temporary electricity subsidy for people who cannot take full advantage of the deduction. It is also noted …

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