Personal Tax in Finland
- Tax Base For Residents and Non-Residents
- Finnish nationals are taxable on worldwide earned and unearned income. Tax treaties provide relief from double taxation. Income tax, municipal and church taxes are payable on earned income and a flat-rate tax is paid on investment income. Nonresidents are taxed on their Finland-generated income.
|State income tax||Progressive rates from 8.5% up to 31.5% on revenues over EUR 62 001.|
|Municipal tax||from 16.5% to 21%|
|Church tax||from 1% to 2% (depending on regions)|
- Allowable Deductions and Tax Credit
The following deductions are allowable:
- expenses incurred in excess of EUR500 for traveling to and from work;
- statutory pension insurance and unemployment insurance premiums;
- interest on a loan if the loan was used to buy a permanent home or property that is used to acquire income;
- capital losses;
- medical expenses and alimony are not deductible, but there is a deductible maintenance allowance of EUR80 per child from earned income for each child living with a former spouse.
- Special Expatriate Tax Regime
- at a flat rate of 35% if that person’s regular monthly cash salary exceeds EUR5,800 (except for teachers and researchers) for 48 months. The application has to be filed within 90 days from the start of the work in Finland.
- Capital Tax Rate
- The net wealth tax was abolished in 2006.
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