Finland’s events industry braced for VAT ‘disaster’
"This one tax technical interpretation will have a catastrophic effect on the profitability of the entire next year"
News By Lisa Henderson | 27 November 2024
Finland’s events industry is bracing for a VAT “disaster” that could cause the industry “an additional bill of millions”. The Finnish government announced earlier this year that VAT on tickets for cultural and sports events will rise from 10% to 14% from 1 January 2025.
It has now emerged that such organisers may have to pay the higher VAT rate for tickets sold at the end of 2024 before it even comes into effect.
The country’s Tax Administration says the tax rate applied to…
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