The standard value-added tax rate will increase by 1.5% effective 1 September 2024
13.08.2024
/ Last updated 26.08.2024 09:05
The standard VAT rate in Finland will increase from 24% to 25.5% on 1 September 2024. The change is due to an amendment to the Value Added Tax Act approved by Parliament and affects the prices of services provided by Oulun Energia Oy, Oulun Energia Sähköverkko Oy, and Syklo Oy.
The VAT is determined by the date of energy supply. The VAT rate for fixed fees and energy-based charges for electricity, heating, or other services is 24 per cent for usage before 1 September 2024. For usage on or after 1 September 2024, the VAT rate increases to 25.5.
The tax rate for connection fees is primarily determined by whether the service has been activated, i.e., the connection has been opened, for the customer’s use before 1 September 2024 (24%) or on or after that date (25.5%).
The VAT rate for waste processing and other circular economy services is 24 per cent for services provided before 1 September 2024, and 25.5 per cent for services provided on or after that date.
The new VAT rate will be automatically applied, and the updated VAT rate will be reflected on invoices. The change does not require any action from our customers. The price lists on our website will be updated when the change takes effect.
