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VAT won't increase next year, says Finance Ministry

According to Jukka Pekkarinen, Director General at the Ministry of Finance, the general value-added tax won't increase in 2015. However, previously discounted or special-rate VATs may be subject to increases.

Käteistä — General value-added tax (VAT) won't increase in 2015 promises the Finance Ministry. Image: Yle

27.1.2014 16:14Updated 27.1.2014 16:15

The general value-added tax (VAT) will not increase next year, said Jukka Pekkarinen, Director General at the Ministry of Finance, on Monday at an event organised by policy and pro-market think tank EVA. But Pekkarinen said that discounted and special VAT rates will likely be increased.

The government is currently putting together a new budgetary savings plan. The Ministry of Finance had previously estimated that in order to make up for the budget's 3 billion euro shortfall additional savings would be required.

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