About 75% of Finns support the abolition of inheritance tax, but experts have warned about the negative consequences for the budget: Finland will miss €650 million a year, reports ee24.сom citing yle.fi.
Tax when you inherit real estate in Finland is progressive: the more expensive the property, the more distant the relative, the higher it is. The man who'd just experienced the bitterness of loss, has to pay from 7% to 32%.
In recent months, the issue on the abolition of inheritance tax was raised when banker Bjorn Wahlroos moved to neighboring Sweden, and the main reason was the absence of this tax there. Prime Minister Alexander Stubb is a supporter of the abolition of the draconian percent, and experts such as Professor in Aalto University Heikki Niskakangas, as well as some parties, such as the Union of Left Forces, Green Party and Social Democratic Party, oppose changes.
Some politicians propose to abolish inheritance tax in Finland and replace it with a tax on the sale of newly inherited property. Others argue that this measure will slow down the housing market.