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Finnish Government Proposes Wealth Tax Hike

by Ulrika Lomas, Tax-News.com, Brussels

15 September 2015


The Government of Finland has proposed increasing taxes on high income individuals in order to cover the growing costs of harboring asylum seekers.

Under the proposal, the capital gains tax will be raised by one percentage point for those in the highest income bracket. In addition, taxpayers earning more than EUR72,300 (USD81,800) per year will be required to pay a so-called solidarity tax for two years.

Finland recently agreed to accept two percent of the 120,000 asylum seekers who are due to be relocated across European states.

According to Finance Minister Alexander Stubb, the country's immigration costs are expected to reach EUR114m this year.

TAGS: individuals | capital gains tax (CGT) | Wealth | Finance | tax | tax rates | Finland | tax reform | Europe

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