Taxation|According to the tax administration, the entire tax collection also decreased in the first half of the year from a year ago.
Leisurely the housing and real estate trade that took place reduced the transfer tax collection in the first half of the year, says the Tax Administration.
Taxman’s Monday published by according to the data, in January–June, more than a fifth or 21.6 percent less money transfer tax was collected than in the same period last year. In the first half of the year, the tax authority collected a total of EUR 255 million in transfer tax. According to the Tax Administration, the decrease is also explained by the fact that the transfer tax rates were calculated at the end of the year.
The property transfer tax rate was calculated last fall by one percentage point, and it is currently three percent. Correspondingly, the transfer tax rate for housing and real estate shares was reduced by half a percentage point from two percent to 1.5 percent. On the other hand, the tax exemption for first-time homes was removed at the beginning of the year, so now also the buyer of a first-time home has to pay capital transfer tax on his home purchase.
Tax administration the taxes collected fell by around 182 million euros in January–June, amounting to 42.3 billion euros. The decrease from a year ago is 0.4 percent.
Income tax collection increased by 2.1 percent, which, according to the Tax Administration, is based on employment that remained positive at the beginning of the year. However, employment is According to Statistics Finland down this year. Instead, the value added tax collection fell by 0.4 percent to 10.5 billion euros.
“Due to the high interest rate and economic uncertainty, consumption has not picked up yet”, Chief Inspector of the Tax Administration Matti Luokkanen says in the announcement.
The government has decided to increase the general value added tax rate at the end of the year, and from the beginning of September the general value added tax rate will rise from 24 percent to 25.5 percent. The Tax Administration expects the increase in the VAT rate to be reflected in the statistics later in the fall.
The general rise in interest rates has also had a positive consequence for taxation. According to the tax administration, withholding tax has been accumulated on interest income for a long time, when banks started paying interest on bank deposits last year. In the beginning of the year, 229 million euros of withholding tax was collected from interest income.
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