The general VAT-rate in Finland will rise to 25.5 percent. Previously, it was 24 percent. The change means in practice that if 24 percent VAT has been applied to your invoices, the VAT will rise to 25.5 percent. The change only applies to services to which this general VAT rate is specifically applied, and the change will enter into force on September 1, 2024.

Business customers can usually deduct the VAT for the services they purchase in their own taxation, so the change will not affect them much. When invoicing consumers, the price of the service will naturally increase, if you do not make changes to your pricing. Please note, however, that the change affects a large number of freelancers, and it may not affect your customers very much, as other service providers are in exactly the same situation.

The VAT rate to be used is determined by the time when the assignment was completed. Work completed before September 1, 2024 will therefore be invoiced with the old VAT rate, and work completed after that with the new one. Invoicery will update the invoicing tool with the new VAT rate in the beginning of September. If you need to invoice the performed work according to the old VAT rate: please contact our customer service at info@invoicery.fi or by phone +358 (0)20 7300 320 and we will help you.