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Home NATIONALForestry holdings tax deduction from 2017
Thu, 14 Apr, 2016 01:16:25 AM
FTimes-STT Report, Apr 14
File Photo Lehtikuva.
Forestry holdings tax deduction could come into effect as early as next year, reported a Finnish language daily, Keskisuomalainen.
According to the newspaper, the government plans to reduce the cost of transferring business estates to the next generation in 2017.
Environment and Agriculture Minister Kimmo Tiilikainen on Tuesday confirmed the matter in Jyväskylä, pointing out that facilitating the generational transfer of agricultural holdings is being realised.
The forestry holdings deduction is related to the timber trade. If the land is transferred to the next generation, for example, as a gift, then only gift taxes need be paid, and the recipient is able to curtail a significant amount of tax later during timber sales.
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