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Home BUSINESSPlans for extensively taxing Finnish pensioners in Spain
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Wed, 16 Dec, 2015 12:05:01 AM
FTimes- STT-Xinhua Report, Dec 16
 
File picture of Finnish people in Spain. Photo – Lehtikuva.
Finance Minister Alexander Stubb and the Spanish ambassador to Finland Maria Jesus Figa Lopez-Palop on Tuesday signed a new tax treaty which would allow Finnish pensioners living in Spain to be taxed more extensively in the near future.
 
Under the current agreement, Finland only charges taxes on public pensions paid to Finnish resi-dents of Spain. 
 
Under the new agreement, Finland may also tax any other pensions paid to Finns living in Spain.
 
The agreement has not yet been ratified by respective parliaments of the two countries.
 
News agency Xinhua adds:  The outgoing agreement dates back to 1967. Finland and Spain tried to renegotiate it in 1990s, but an agreement seemed negotiable only when the talks resumed in 2013.
 
Senior government counsellor Antero Toivainen told Finnish national broadcaster Yle that new pol-icies would take effect in 2020 after a transition period of three years.
 
Counsellor Toiviainen said he hopes that the agreement with Spain will also improve chances of getting an understanding with Portugal.
 
Currently Portugal is giving wide tax privileges for pensioners moving into the country. Although the number of pensioners moving from Finland to Portugal is smaller compared with those choosing Spain, the emigration to Portugal has got much publicity in Finland this year due to the fact some high end pensioners -- with millions paid in pensions each year -- have chosen Portugal.  
 
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