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Published: 18 September 2020

Tax revenue grew by 2.5 per cent in 2019

The accrual of taxes and compulsory social security contributions grew by 2.5 per cent in 2019. The total accrual amounted to EUR 101.5 billion. The tax ratio fell from the previous year by 0.2 percentage points to 42.2 per cent. The tax ratio describes the ratio of taxes and compulsory social security contributions to gross domestic product. These data are based on the preliminary data on national accounts for 2019. The accrual of taxes and compulsory social security contributions was EUR 426 million greater than according to the information available in March, mainly due to more precise social security contribution and value added tax figures.

Taxes and compulsory social security contributions by sector, 2018–2019*

		2018	2019*
S13+S212 Total	Million euro	99 025	101 546
	Ratio to GDP, %	42,4	42,2
S1311 Central Government	Million euro	48 684	49 682
	Ratio to GDP, %	20,8	20,7
S1313 Local Government	Million euro	22 464	23 166
	Ratio to GDP, %	9,6	9,6
S1314 Social Security Funds	Million euro	27 647	28 295
	Ratio to GDP, %	11,8	11,8
S212 European Union	Million euro	230	403
	Ratio to GDP, %	0,1	0,2

* Preliminary data

In addition to the tax rate, we can examine the net tax ratio, which is calculated by deducting income transfers paid by general government from taxes received by general government. In 2019, the net tax ratio was 18.0 per cent of gross domestic product, down by 0.1 percentage points from the previous year.

The value added tax revenue grew by 2.9 per cent from the previous year and was EUR 22.0 billion. The revenue from other taxes paid for goods and services mainly decreased somewhat. The revenue grew in pharmacy fee (by 4.4 per cent) and the tax on soft drinks (16.9 per cent). The revenue from tobacco tax and alcohol tax grew only slightly. The revenue from central government's share of Oy Veikkaus Ab's profit fell by 0.9 per cent and amounted to EUR 1.1 billion. The revenue from energy taxes decreased by 2.3 per cent and the revenue for the year was EUR 4.3 billion. The revenue from vehicle and motorcycle tax, EUR 886 million, was 11.0 per cent lower than in the previous year and that of user charge on passenger vehicles, EUR 1.2 billion, 3.7 per cent lower.

The income tax paid by households grew by 2.9 per cent and the revenue amounted to EUR 29.4 billion. The revenue from taxes on property rose by 3.8 per cent from the previous year. In 2019, the revenue from inheritance and gift tax was EUR 748 million or 8.1 per cent more than in 2018. The revenue from transfer tax was EUR 857 million, with an increase of 1.5 per cent from one year before.

EUR 216 million collected as contributions to the Single Resolution Fund from credit institutions was recorded as tax revenue for the institutions of the European Union. Contributions to the Deposit Guarantee Fund by deposit banks were for the first time treated as a tax and they amounted to EUR 56 million in 2019.

In 2019, the tax revenue of central government totalled EUR 49.7 billion. The growth from the year before amounted to 2.0 per cent. The tax revenue of local government totalled EUR 23.2 billion and it rose by 3.1 per cent from one year before. The accruals of compulsory social security contributions paid to social security funds increased by 2.3 per cent and totalled EUR 28.3 billion. The proportion of taxes and statutory social security contributions in consolidated total general government income was 80.3 per cent in 2019.

Source: National Accounts, Statistics Finland

Inquiries: Reija Haapanen 029 551 3592, financial.accounts@stat.fi

Head of Department in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Taxes by sector and tax category, 2018 - 2019 1) (18.9.2020)

Figures

• Appendix figure 1. Tax ratio in 1975 to 2019* (18.9.2020)
• Appendix figure 2. Tax ratio by tax collector sector 1975 - 2019* (18.9.2020)

Revisions in these statistics

• Revisions in these statistics (18.9.2020)

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Updated 18.9.2020