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Deposits And Bonds Will Be Tax Relief Act

Original Language Title: Talletusten ja obligaatioiden veronhuojennuslaki

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Tax relief law for deposits and bonds

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In accordance with the decision of the Parliament:

ARTICLE 1 (16/101992/921)

As a taxable income of a natural person and of a domestic estate, interest shall not be remunerated at national and local level in respect of a deposit made to an account intended for the receipt of deposits from the general public in the domestic deposit bank or foreign exchange A credit institution in the Finnish branch of the credit institution or a comparable account with the cooperative savings account if:

(1) the deposit shall be credited to the account referred to above for a period of 24 months between 1989 and 1995 and the annual interest rate on the deposit shall not exceed the base rate of the Bank of Finland minus two percentage points; or (8.12.1994/11)

2) the deposit shall be credited to the account referred to above for 36 months on or after 1 September 1992, and no later than 31 December 1993, and the annual interest rate on the deposit shall not exceed the base rate of the Bank of Finland, minus one Percentage points.

If the deposit referred to in paragraph 1 is transferred to another other than as a female part, under marital law, as an inheritance, In Chapter 8 of the , the interest accrued from the period prior to the date of the deposit and the interest of the post-deposit period shall be taxable income taxable in the order of the taxable person's tax law.

ARTICLE 2 (28.12.1990/1342)

The taxable income of a natural or domestic estate in the State and municipal tax is not paid by the State or by the mortgage bank, the interest rate on the bonds issued between 1989 and 1992, if:

(1) the maturity of the bond loan is 10 years; and

2) the annual interest rate on the bond issue shall not exceed the base rate of the Bank of Finland.

ARTICLE 3

The deposit referred to in Article 1 shall not be subject to the taxable amount of a natural or domestic estate. (16/101992/921)

The value of the bond issue referred to in Article 2 of the 1989-1992 issue is not the taxable amount of a natural or domestic estate. (28.12.1990/1342)

Notwithstanding the provisions of paragraph 1, the deposits referred to in Article 1 (1), of which the interest received under Article 1 (2) is subject to taxable income, shall constitute taxable assets of the transferor and the transferee. (16/101992/921)

§ 4 (16/101992/921)

The financial institution referred to in Article 1 shall include an explanation as to the effect of the transfer of the deposit on the taxation of the depositor and the transferee.

§ 5

More detailed provisions on the implementation of this law shall be adopted, where appropriate, by a regulation.

ARTICLE 6 (8.12.1994/11)

This Act shall enter into force on 1 January 1989. The law also applies to deposits made for a period of 24 months from 1989 to 1995, which are only to be withdrawn after 1995, and in the years 1992 and 1993 referred to in Article 1 (1) (2), For a limited period of time, which can only be withdrawn after 1993.

Government proposal 45/88, Finance Committee. 36/88, Great Comet. Miet. 8 788

Entry into force and application of amending acts:

1.12.1989/1039:

This Act shall enter into force on 15 December 1989.

Government proposal 200/89, Finance Committee. 63/89, Great Comet. Miet. 155/89

28.12.1990/1342:

This Act shall enter into force on 1 January 1991.

Government proposal 123/90, Finance Committee. 66/90 and 66 a/90, Great. Miet. 221/90

30.4.1992/377:

This Act shall enter into force on 1 May 1992.

Article 1 shall apply to the interest accruing from the date of entry into force of the law and the subsequent period.

Government proposal 29/92, Finance Committee. ???

16.10.1992/921:

This Act shall enter into force on 22 October 1992.

Article 1 of the Law shall apply to the deposits referred to in Article 1 (1) (2) and the interest accruing from the period after that date.

THEY 119/92 , VaVM 38/92

8.12.1994/1112:

This Act shall enter into force on 1 January 1995.

The law shall apply to the deposits referred to in Article 1 (1) (1) on 1 January 1995 and the interest accruing from the period after that date.

THEY 177/94 , VaVM 55/94