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Finns who earn over $81,000 hit with “solidarity tax” to pay for migrant invasion

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Anna Ercanbrack and Jussi Rosendahl
September 10, 2015

HELSINKI (Reuters) – Finland’s government on Thursday proposed increasing capital gains tax and income tax on high earners to help pay for a 10-fold increase in refugees expected to arrive this year, its finance minister said.

The EU migrant crisis proposes a political as well as a financial challenge for the coalition, whose foreign minister, Timo Soini, heads the Eurosceptic party, The Finns, which campaigned for tighter controls on immigration.

Finance Minister Alexander Stubb said the highest bracket of capital gains tax would be raised by 1 percentage point while people earning more than 72,300 euros ($81,000) would be required to pay a so-called solidarity tax for two years, lowering the threshold from 90,000 euros.

“These will help to cover higher immigration costs which we estimate to be about 114 million euros this year,” Stubb told a news conference.

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This article was posted: Thursday, September 10, 2015 at 1:21 pm

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