Finland Times

The total accrual amounted to EUR 92 billion and the tax ratio grew from the previous year by 0.2 percentage points to 44.0 per cent, according to Statistics Finland.

The tax ratio describes the ratio of taxes and compulsory social security contributions to gross domestic product.

The tax ratio for 2015 went down by 0.5 percentage points mainly because GDP became revised from the preliminary data released in March as per the statistics based on the revised national accounts data for 2015.  

The revenue from income tax paid by corporations rose by 15.2 per cent and totalled EUR 4.4 billion.

In addition, the accrual from households' income tax, employment pension contributions paid by employers and the insured, inheritance and gift tax and energy taxes, for example, grew in 2015.

The accrual of excise duties on alcoholic beverages, in turn, went down by 1.8 per cent, to EUR 1.4 billion. For example, duty on interests, excise duty on motor cars, and waste tax also decreased.

EUR two million were recorded in the national accounts as tax revenue from the contributions to the Resolution Fund collected by the Financial Stability Authority in 2015 from credit institutions and investment firms.

The share of the contribution covered by the bank tax collected in earlier years was not recorded as tax revenue.

The tax revenue of the state totalled EUR 43.3 billion in 2015.

The growth from the year before amounted to 1.5 per cent. The tax revenue of local government totalled EUR 21.9 billion and grew by 3.3 per cent from one year before.

The accruals of compulsory social security contributions paid to social security funds increased by 2.4 per cent and totalled EUR 26.6 billion.

The proportion of taxes and statutory social security contributions in consolidated total general government income was 80.1 per cent.

The net tax ratio decreased to 17.6 per cent in 2015 from 17.9 per cent in the year before.

The net tax ratio is calculated by deducting the subsidies, and current and capital transfers paid by general government to households and enterprises from the tax ratio.