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Published: 11 July 2014

Tax revenue grew by 3.9 per cent in 2013

The accrual of taxes and compulsory social security contributions grew by 3.9 per cent in 2013. The total accrual amounted to EUR 88.6 billion. The tax ratio was 44.0 per cent. The tax ratio describes the ratio of taxes and compulsory social security contributions to gross domestic product. The tax ratio increased by 1.2 percentage points from the previous year. These data are based on the preliminary national accounts data for 2013. The tax ratio is now at a lower level than before, because the ESA 2010 review of national accounts increased gross domestic product.

Taxes and compulsory social security contributions by sector, 2012 to 2013 1)

Sector Year Million euro Ratio to GDP, %
S13+S212 Total 2012 85 269 42,8
2013 88 589 44,0
S1311 Central Government 2012 40 480 20,3
2013 42 080 20,9
S1313 Local Government 2012 19 359 9,7
2013 20 726 10,3
S1314 Social Security Funds 2012 25 245 12,7
2013 25 616 12,7
S212 European Union 2012 185 0,1
2013 167 0,1
1) Preliminary data

In particular, the revenue from households' income tax, value added tax and corporation tax grew. The accrual of value added tax amounted to EUR 18.8 billion, or 4.8 per cent more than in 2012. The growth was due to the one percentage point increase in value added tax rates at the beginning of 2013. The revenue from households' income tax rose by 4.2 per cent and totalled EUR 25.8 billion. The accrual of corporation tax grew by 13.8 per cent, to EUR 4.7 billion. In addition, the revenue from death duty, gift tax, tobacco tax and vehicle tax increased clearly from before. The accrual of alcohol, energy and car tax decreased. Of new taxes in 2013, a total of EUR 134 million was accrued in bank tax. The public service broadcasting tax is included in the accrual of households' income tax and corporation tax. According to a preliminary estimate, the total accrual of the public service broadcasting tax is around EUR 500 million of which approximately EUR 480 million is included in households' income tax.

In 2013, the tax revenue of the state totalled EUR 42.1 billion and grew by 4.0 per cent from one year earlier. The tax revenue of municipalities amounted to EUR 20.7 billion and grew by 7.1 per cent. The growth of compulsory social security contributions paid to social security funds slowed down to 1.5 per cent. The total accrual of compulsory social security contributions was EUR 25.6 billion. The proportion of taxes and statutory social security contributions in consolidated total general government income was 79 per cent in 2013.

The net tax ratio grew to 18.6 per cent from 18.2 per cent in 2012. 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.

Impacts of the ESA 2010 review of national accounts

The European Union will start using the new system of national accounts (ESA 2010) at the end of September 2014. The national accounts data will then be based on the new ESA 2010 methodological handbook. For Finland, the new system was taken into use in the national accounts data published on 11 July 2014. The review does not have many fundamental changes, but because of it, the system of national accounts becomes more up-to-date with relation to the present economic environment and answers to new data needs of users. On account of the review, the value of gross domestic product grows in all years. This has an effect on the tax ratio that describes the ratio of taxes and compulsory social security contributions to gross domestic product. More detailed information on all the impacts of the ESA 2010 review can be found on the Internet pages of the ESA review of national accounts at https://www.stat.fi/til/ekt2010_en.html .

The review influences taxes and tax-like payments through the renewed treatment of value added tax, growth of gross domestic product and some smaller changes. In connection with the ESA 2010 review, the new data source used for value added tax paid by municipalities and joint municipal authorities and repaid to municipalities is the Tax Administration's data starting from 2002, because the previously used data source, statistics on local government finances did not include value added tax of municipal enterprises. As a result of the review, value added tax revenue and tax ratio increased. The change did not affect net lending. In addition, the vehicle registration fee was changed from a payment into a tax in connection with the time series revision. The change was made from 1997 onwards.

New and old tax ratios in 1975 to 2013*

New and old tax ratios in 1975 to 2013*
* Preliminary data

Source: National Accounts, Statistics Finland

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

Director in charge: Leena Storgårds

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Tables

Tables in databases

Appendix tables

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Updated 11.7.2014

Referencing instructions:

Official Statistics of Finland (OSF): Taxes and tax-like payments [e-publication].
ISSN=2341-6998. 2013. Helsinki: Statistics Finland [referred: 30.6.2022].
Access method: http://www.stat.fi/til/vermak/2013/vermak_2013_2014-07-11_tie_001_en.html