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Home BUSINESSGovt mulls capping interest deductions
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Mon, 08 Feb, 2016 12:03:26 AM
Taxation on companies
FTimes – STT Report, Feb 8
 
File Photo – Lehtikuva.
The government is considering capping interest deductions on the taxation levied on companies.
 
According to Prime Minister Juha Sipilä, the finance ministry is currently examining the matter.
 
Inflated interest could provide companies with a means to transfer their income to a country with low taxation threshold.
 
The issue has gained prominence recently following tax planning revelations by the electricity company Caruna and some companies in the health sector.
 
“This has already been addressed, but in connection to this it is necessary to find out whether much should still be done to prevent situations in which too little of the income is taxable in the country,” Sipilä told a meeting of the ruling Suomen Keskusta (Centre Party) in Tampere on Sunday. 
 
The premier was asked how the government endeavoured to prevent aggressive tax planning.
 
Cases which have come to public knowledge have involved foreign companies buying business operations in the country through holding companies.
 
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