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Finland Announces Fourth Supplementary Budget Proposal Including VAT Exemption for PPE

The Finnish government has announced the fourth supplementary budget proposal for 2020 that includes EUR 1.4 billion COVID-19 support package. This includes a proposal that the sale of necessary protective equipment to the social and healthcare sector due to the coronavirus pandemic would, in specific respects, be temporarily exempted from VAT. This temporary arrangement would be applied to the period 30 January to 31 July. The exemption would apply to protective equipment used in coronavirus-related prevention, testing, and care.

A separate release on the fourth supplementary budget proposal also notes the continuation of urgent measures to combat the crisis, including the previously announced payment arrangement for VAT already paid in January–March 2020, as well as the further reduction of interest rate on payment arrangements from 4% to 3%.

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