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%):
- Hotel services
- Public transport
- 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.
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