The tax administration collects 42 billion euros in the first half of 2022 | New

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The bureau said a growing economy and rising employment levels were behind the increased inflow.

File photo. Image: Tiina Jutila/Yle

The Finnish tax administration collected some 42 billion euros in taxes in the first six months of this year, an increase of more than 9% compared to the same period last year.

In a press release, the office said the rise in state coffers revenue is mainly due to increased economic activity and rising employment levels.

Finland’s economy was still reeling from the effects of the Covid pandemic in the first six months of 2021, the bureau further noted, as many Covid-related restrictions on business activities remained in place.

In a further breakdown of the figures, the authority said tax revenue in the form of value added tax (VAT) payments increased by 7% compared to the same period last year, while the corporate tax had increased by nearly 27%.

“People bought more goods and services during the months of November through April than they did a year earlier,” Matti Luokkanen of the tax administration wrote in a press release.

“However, no conclusions can be drawn from the figures on the effects of the uncertain global economic situation, and inflation will also affect the VAT figures at the end of the year.”

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