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Finland

30 August 2021

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Finland Establishes Working Group to Study Introduction of a Negative Income Tax for Individuals

Finland's Ministry of Finance has announced the establishment of a working group to study the introduction of a negative income tax to provide income support for individuals. The negative income tax would apply for low-income earners, pensioners, and entrepreneurs to encourage employment in part-time and gig jobs, among other things. The working group is tasked with looking into how the current income tax deduction is granted and changes that would provide for negative taxation. The changes would essentially provide that for those whose taxes are not sufficient under the current system to make a full deduction, the deduction in excess of the amount of tax would be paid to the taxpayer (i.e., negative taxation). The term of the working group is to end on 30 June 2022, with the government scheduled to make guidelines for the introduction of a negative income tax trial in the summer of 2022.

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