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Home BUSINESSTax hike bars economic growth: EVA
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Tue, 28 Jan, 2014 12:10:08 AM
FTimes-STT Report, January 28
Director General of the Ministry of Finance Jukka Pekkarinen speaking on the publication ceremony of the analysis report of EVA in Helsinki on Monday. Photo – Str / Lehtikuva.
The economic growth of the country has been hampered seriously due to the recent increase of tax by the government, according to an analysis by Elikeinoelämän Valtuuskunta (EVA), a pro-market think tank.
The EVA released the analysis report at a programme in Helsinki on Monday in the presence of economists and responsible authorities, in a bid to identify and evaluate trends that are important for Finnish companies and for the long-term success of the society.
Tax tightening of up to 5.2 billion has taken effect up to now and the move for further increase of tax was on way, said the analysis by Hannu Kaseva, a researcher, adding that only one-third of the taxation focused on consumption.
Heikki Lehtonen (left) and Pro chairman Antti Rinne were present on the occasion. Photo – Str / Lehtikuva.
The researcher considered consumption tax as "good taxation" while the rest targeted cuts in wages and capital development.
In addition, the hidden taxation increased further when municipal budgets covered for surplus in state enterprises and as service charges in municipalities became expensive.
Commenting on the analysis, Jukka Pekkarinen, the director general of the Ministry of Finance, said it was impossible to create a completely perfect tax system.
He added that there was pressure to reduce VAT as a part of tax reforms, calling them very expensive form of support.
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