Published: 9 July 2015

Tax revenue grew by 1.5 per cent in 2014

The accrual of taxes and compulsory social security contributions grew by 1.5 per cent in 2014. The total accrual amounted to approximately EUR 90 billion. The tax ratio grew from the previous year by 0.2 percentage points to 43.9 per cent. The tax ratio describes the ratio of taxes and compulsory social security contributions to gross domestic product. Compared with the preliminary data released in March, the tax ratio for 2014 went down by 0.2 percentage points mainly due to the revision of GDP. The data on the accrual of taxes did not become significantly revised from previously released data. These data are based on the revised national accounts data for 2014.

Taxes and compulsory social security contributions by sector, 2013 - 2014*

Sector Year Million euro Ratio to GDP, %
S13+S212 Total 2013 88 688 43,7
2014 89 976 43,9
S1311 Central Government 2013 42 179 20,8
2014 42 635 20,8
S1313 Local Government 2013 20 726 10,2
2014 21 174 10,3
S1314 Social Security Funds 2013 25 616 12,6
2014 25 996 12,7
S212 European Union 2013 167 0,1
2014 171 0,1
*) Preliminary data

The revenue from households' income tax grew particularly in 2014. The revenue from income tax paid by households rose by 6.1 per cent and totalled EUR 27.4 billion. The tax includes both taxes on earned income and taxes on capital income. The revenue from households' income tax was increased by the renewal of dividend taxation, which took effect in 2014. In addition, the accrual of employment pension contributions paid by the insured and employers, real estate tax and capital transfer tax also grew clearly from one year before. The accrual of corporation tax in turn contracted by 17.9 per cent, to EUR 3.8 billion. The accruals of energy taxes, tobacco tax, employers' other social security contributions, as well as death duty and gift tax diminished.

In 2014, the tax revenue of the state totalled EUR 42.6 billion. The growth from the year before amounted to 1.1 per cent. The tax revenue of municipalities totalled EUR 21.2 billion and grew by 2.2 per cent from one year before. The accruals of compulsory social security contributions paid to social security funds increased by 1.5 per cent and totalled EUR 26 billion. The proportion of taxes and statutory social security contributions in consolidated total general government income was around 80 per cent in 2014.

In 2014, the net tax ratio decreased to 17.8 per cent from 18.5 per cent in the year before. The net tax ratio is calculated by deducting the subsidies, and current and capital transfers paid by general government to households and enterprises from the tax ratio.


Source: National Accounts, Statistics Finland

Inquiries: Kirsi Peltonen 029 551 3464, financial.accounts@stat.fi

Director in charge: Mari Ylä-Jarkko

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Tables

Tables in databases

Appendix tables

Figures

Updated 9.7.2015

Referencing instructions:

Official Statistics of Finland (OSF): Taxes and tax-like payments [e-publication].
ISSN=2341-6998. 2014. Helsinki: Statistics Finland [referred: 23.5.2019].
Access method: http://www.stat.fi/til/vermak/2014/vermak_2014_2015-07-09_tie_001_en.html