Eläketulovähennys

Eläketulovähennys is a tax deduction in Finland that reduces the taxable income of individuals receiving a pension. This deduction is intended to lessen the tax burden on pensioners and improve their financial situation. The amount of the deduction is determined by the amount of pension income received and the individual's overall financial circumstances. It is not a fixed sum but rather a calculated reduction.

To be eligible for eläketulovähennys, a person must be receiving a pension, such as an old-age pension, disability pension, or survivor's pension. The deduction is applied to the pension income before other taxes are calculated. The specific rules and calculations for the eläketulovähennys are outlined in Finnish tax legislation. This deduction can significantly impact the net income of pensioners, making it an important aspect of the Finnish social security system. The Finnish Tax Administration (Verohallinto) manages the application and calculation of this deduction.