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Home BUSINESSGovt withdraws active repentance bill
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Thu, 05 Nov, 2015 12:16:38 AM
FTimes – STT Report, Nov 5
 
Finance Minister Alexander Stubb held a press conference in Parliament in Helsinki on Wednesday, November 4, 2015. Photo – Lehtikuva.
Finance Minister Alexander Stubb on Wednesday said the government has decided to withdraw its draft bill on active repentance.
 
The active repentance programme was scheduled to be implemented from the beginning of 2016. The programme would have made it possible for people who voluntarily inform the tax authority about previously undeclared information on income and assets to avoid criminal sanctions.
 
The finance ministry in a release said heads of parliamentary groups discussed the draft on Tuesday and decided it should be pulled out due to constitutional considerations.
 
Stubb admitted that the draft encountered constitutional problems. The draft was supposed to be permanent. Stubb himself would have liked a fixed-term procedure.
 
The government also announced annulment of a decision to cut 6.4 million euros designated for financial crime investigation.
 
According to Stubb, the grey economy costs the state coffers 4-6 billion euros a year and is a problem which should be wiped out.
 
The government is currently preparing a whole package on the fight against grey economy which takes into account international exchange of tax information and its enhancement.
 
Prime Minister Juha Sipilä also said that the draft was withdrawn due to constitutional challenges.
 
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