07.03.23

VAT re-classifications of specific products

The introduction of new VAT rates are not the only changes countries deploy as part of their fiscal strategies. Less radical measures, such as re-classifying specific goods and services under existing tax rates, also serve as an equally effective measure.  

Finland is re-classifying the following good and services, in line with the following: 

Goods / services now subject to 14% (up from 10%): 

• Books 
• Hotel services 
• Public transport 
• Pharmaceuticals  
• Entrance to cultural and sporting events  
• Film screenings 
• Royalties for television and public radio activities 

Goods / services now subject to 24% (up from 14%): 

• Specific feminine hygiene products  
• Specific products for baby care 

Kofax’s e-invoicing solution already accommodates all valid rates for Finland, a compliant territory, as part of our e-invoicing solution.