Finnish Parliament Passes Sales Tax Cut For Loggers
by Ulrika Lomas, Tax-News.com, Brussels
22 December 2008
The Finnish Parliament voted on December 16 to lower sales tax on the sale of raw timber. It is hoped that the drop in tax will increase domestic supplies of the raw material ahead of Russia’s proposed 80% tax on timber exports.
Since Russia announced plans to reduce her timber exports, upon which Finnish industries rely, Finland has sought to wean itself off its reliance on Russian imports, and to secure an alternative supply.
The Finnish parliament hopes that a 50% cut in sales tax on sales of raw timber in 2009, falling to a 25% cut in 2010, will help boost local harvesting of timber sufficiently to offset the feared fall in Russian supply.
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