Global Daily Tax News, Finnish Lawmakers Approve 2025 Budget, (Jan 6, 2025)

Finnish lawmakers have recently signed off on the nation's 2025 Budget, released in September 2024.

The Finnish Budget announced plans to introduce a tax credit for large-scale industrial investments towards the green transition, with effect from January 1, 2025; a tax exemption for relocation costs for foreign workers moving to Finland to take up employment that are paid for by an employer; and adjustments to income tax bands, except for the two highest income tax brackets, and to deductions.

The training deduction for employers has been repealed and revenue-raising reforms have been made to the tax rules for rental income derived from agricultural land.