kiinteistönsiirtovero

Kiinteistönsiirtovero is a Finnish tax levied on the transfer of real estate. It is payable by the buyer of a property, whether it is a residential property, land, or a share in a housing company. The tax is applied to the purchase price or the assessed market value of the property, whichever is higher. The tax rate varies depending on the type of property and the buyer. For most real estate transactions, the rate is 4%. However, for the transfer of shares in a housing company that owns a residential building, the rate is typically 2%. Certain exemptions exist, for example, when transferring property between spouses or heirs in connection with a divorce or inheritance. The tax is an important source of revenue for the Finnish government and municipalities. It is assessed and collected by the Finnish Tax Administration (Verohallinto). Failure to pay the kiinteistönsiirtovero on time can result in penalties and interest. The obligation to pay the tax arises upon the formal transfer of ownership, usually recorded in a deed of sale or a deed of partition.