The Finnish government agreed on March 21st to set new tax rates by adopting the central government spending limits for 2014-2017. The corporate income tax rate will be cut from 24.5% to 20%.

The new tax rate is planned to become effective as of 1st of January 2014. This reduction will however be paired with an extension of the tax base. The right to deduct interest expenses will be restricted, as previously decided, and the right to deduct representation expenses removed.

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