Day: November 6, 2024

Commerce provides employment and tax revenue in Finland – however, domestic specialty goods trade is affected by the government’s tax policy  

Commerce is one of the largest sectors of business life and the Finnish economy, both as an employer, a creator of economic growth and a payer of taxes. The VAT revenue generated by commerce's domestic sales is also up to half of total VAT revenue in Finland. However, the government has weakened the international competitiveness of specialty goods trade by tightening VAT, and this tightening will not be reflected in the tax revenue as the government has hoped.