Published: 2 March 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 EUR 89.9 billion. The tax ratio grew from the previous year by 0.2 percentage points to 44.1 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 national accounts data for 2014.

Taxes and compulsory social security contributions by sector, 2013 to 2014 1)

Sector Year Million euro Ratio to GDP, %
S13+S212 Total 2013 88 589 43,9
2014 89 932 44,1
S1311 Central Government 2013 42 080 20,8
2014 42 540 20,9
S1313 Local Government 2013 20 726 10,3
2014 21 175 10,4
S1314 Social Security Funds 2013 25 616 12,7
2014 26 046 12,8
S212 European Union 2013 167 0,1
2014 171 0,1
1) Preliminary data

In particular, the revenue from households' income tax grew. The revenue from income tax paid by households rose by 6.2 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, amongst other things, the renewal of dividend taxation, which took effect in 2014. In addition, the accrual of employment pension contributions by the insured, real estate tax and capital transfer tax also grew clearly from 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, and death duty and gift tax also diminished. Income from auction of emission allowances, which is included in state revenues from taxes, amounted to EUR 59 million.

In 2014, the tax revenue of the state totalled EUR 42.5 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 1.7 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 18.0 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: Leena Storgårds

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Tables

Tables in databases

Appendix tables

Figures

Updated 2.3.2015

Referencing instructions:

Official Statistics of Finland (OSF): Taxes and tax-like payments [e-publication].
ISSN=2341-6998. 2014. Helsinki: Statistics Finland [referred: 27.1.2022].
Access method: http://www.stat.fi/til/vermak/2014/vermak_2014_2015-03-02_tie_001_en.html