Finland

Temporary changes concerning tax credit for household expenses will come into force in 2022. The maximum tax credit for household expenses related to the move from oil heating to more sustainable energy sources and household work, nursing, and care will increase from 2,250 to 3,500 euros (EUR). The temporary change concerning the first-mentioned will be in force during 2022-2027 and the latter during 2022-2023. Additionally, the tax credit increases to 60% of the work-related expenses specified on a contractor’s invoice (previously 40%). See Household expenses in the Deductions section for more information.

The deduction for home loan interest will decrease to 5%. The deduction has gradually decreased since 2012. As of 2023, home-loan interest will not be tax-deductible.

The taxable value of low emission company cars will be reduced by EUR 85 per month. The reduction is valid for years 2022-2025.

As of 1 August 2022, the unemployment insurance contribution is removed from people under 18.

As of 1 January 2021, the time limit for a workplace to be considered temporary was extended to 3.5 years if the earlier 3-year limit is exceeded between 1 January 2021 and 31 December 2021. The extended 3.5-year limit is also applied in tax year 2022 if the earlier 3-year limit is exceeded during 2022. If an employee is working temporarily in a temporary place of work, the employer may compensate the employee some travel expenses, such as daily allowances, in a tax-exempt basis.

As of 1 January 2021, there is a change in the taxation of the emission of new shares by employees. Before 1 January 2021, a discount not exceeding 10% of the fair market value of the company shares when shares are being issued to all or the majority of the employees is tax exempt for the employee. This applies to both listed and unlisted companies and also shares in other group company than the employer company are concerned. As of 1 January 2021, employees of an unlisted company may be issued shares in the employer company with a greater discount than 10% without any taxable benefit being created. No taxable benefit arises as long as the valuation of the share is based on the so-called mathematical value of a share (substance value with certain corrections) instead of the fair market value. Tax exemption would require that the majority of the employees are entitled to participate in the emission. The present rules regarding personnel emission in unlisted companies remain the same.