perintöverojärjestelmä

Perintöverojärjestelmä refers to the system of inheritance tax in Finland. This tax is levied on property received through inheritance or as a gift. The Finnish perintöverojärjestelmä is progressive, meaning the tax rate increases with the value of the inherited or gifted assets. It is also divided into tax brackets based on the relationship between the deceased and the beneficiary, and the donor and the recipient.

There are two main categories of beneficiaries for inheritance and gift tax purposes. Class I includes spouses, lineal descendants (children, grandchildren), and lineal ascendants (parents). Class II includes all other beneficiaries, such as siblings, nieces, nephews, and unrelated individuals. The tax rates are generally lower for Class I beneficiaries compared to Class II beneficiaries.

The taxable inheritance or gift is the net value of the assets after deducting debts and funeral expenses. Gifts received within three years of the deceased's death are usually added to the taxable inheritance to determine the applicable tax rate. The tax is assessed and collected by the Finnish Tax Administration (Verohallinto). It's important to note that Finland does not have an estate tax, which is a tax on the total value of the deceased's estate before distribution. The perintöverojärjestelmä focuses solely on the value received by individual beneficiaries.