{"id":323271,"date":"2025-12-03T19:24:10","date_gmt":"2025-12-03T19:24:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/323271\/"},"modified":"2025-12-03T19:24:10","modified_gmt":"2025-12-03T19:24:10","slug":"finnish-mps-approve-inheritance-gift-tax-reform-yle-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/323271\/","title":{"rendered":"Finnish MPs approve inheritance, gift tax reform | Yle News"},"content":{"rendered":"

Among other things, the law change raised the threshold at which point inheritance tax becomes payable. <\/p>\n

\"A<\/p>\n

Open image viewer<\/p>\n

The terms of payment of those taxes was also relaxed. File photo. Image: Andrey Popov<\/p>\n

Finnish Parliament has approved reforms to the country’s inheritance and gift tax legislation, it announced on Wednesday.<\/p>\n

In practice, it will raise the minimum inheritance tax threshold from the current 20,000 euros to 30,000 euros.<\/p>\n

When the new legislation goes into effect at the beginning of next year, inheritance amounts below the new limit will not be subject to tax.<\/p>\n

Additionally, the minimum value for a gift that is subject to tax was raised from 5,000 euros to 7,500 euros.<\/p>\n

The terms of payment of those taxes was also relaxed.<\/p>\n

PM’s party wanted the reforms<\/p>\n

Finland’s inheritance tax policy has remained unchanged since 2009. However, to many, the rule gradually tightened over the years, as incomes and the cost of living have risen.<\/p>\n

Prime Minister Petteri Orpo’s National Coalition Party was particularly enthusiastic about the reforms, and the party has a long-term goal of completely eliminating the inheritance tax.<\/p>\n

Earlier this year, the government examined the feasibility of dropping the inheritance tax, without a precise answer. However, it was decided that it wasn’t worth abolishing the tax entirely.<\/p>\n

The government’s second-largest partner, the Finns Party, has opposed abolishing the inheritance tax. The party’s leader, Finance Minister Riikka Purra, has said she would prefer lowering work-related income taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"Among other things, the law change raised the threshold at which point inheritance tax becomes payable. Open image…\n","protected":false},"author":2,"featured_media":323272,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,133,131,132],"class_list":{"0":"post-323271","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-finance","12":"tag-personal-finance","13":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/323271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=323271"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/323271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/323272"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=323271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=323271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=323271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}