Finland

Significant changes to transfer taxation will enter into force in the beginning of 2024. Among other changes, all transfer tax rates will be reduced as of 1 January 2024. These new rates are applied retroactively to acquisitions made on or after 12 October 2023.

Taxpayer can receive an additional deduction of 45% on research and development (R&D) costs for the first time in tax year 2024 based on an increase in the amount of R&D activities.

As for real estate taxation, the minimum tax rate applicable to all land areas will be increased to 1.30% from 2024 onwards.

Pillar Two legislation was approved by the Finnish Parliament on 11 December 2023.

Please find more information on the following pages of this tax summary.