Finland’s 20% corporation tax is the lowest in the Nordic countries

Lower corporation tax rate makes Finland an even more attractive investment destination.

The government of Finland reduced the corporation tax rate to 20% from its previous level of 24.5% starting from the beginning of this year. According to the government, the aim of the corporation tax cut is to boost the growth and competitiveness of the Finnish economy, speed up investments and create employment.

Finland now has the lowest corporation tax among the Nordic countries, along with Iceland. Sweden’s corporation tax rate is 22%, Norway’s 27% and Denmark’s 24.5%. The average corporation tax rate in the EU is 22.75%, and in the OECD countries the average rate is 25.32%

The lower corporation tax rate will increase interest in Finland and make it a more attractive investment destination for foreign companies, according to experts from Invest in Finland.

Sources: Government of Finland, KPMG, Invest in Finland