Skip to content

Tax authority rakes in €42bn during first half of 2022

The office said that a growing economy and a rise in employment levels were behind the increased intake.

File photo. Image: Tiina Jutila / Yle

Finland's tax authority has collected some 42 billion euros in taxes during the first six months of this year, an increase of more than 9 percent compared to the same period last year.

In a press release, the office said that the rise in revenue for the state coffers is mainly due to increased economic activity and a rise in employment levels.

Finland's economy was still reeling from the effects of the Covid pandemic during the first six months of 2021, the office further noted, as many Covid-related restrictions on business activities remained in place.

In an additional breakdown of the figures, the authority said that tax revenue in the form of Value Added Tax (VAT) payments were up 7 percent on the same period last year, while corporation tax increased by almost 27 percent.

"People have bought more goods and services during the months of November to April than they did a year previously," Matti Luokkanen of the Tax Administration wrote in a press release.

"However, no conclusions can be drawn from the figures about the effects of the uncertain global economic situation, and inflation will also affect the VAT figures at the end of the year."