Business

Thursday’s papers: Uncertainty for Ukrainians, targeted tax breaks, and Finnish gambling’s last spin

By Zena Iovino

Copyright yle

Thursday's papers: Uncertainty for Ukrainians, targeted tax breaks, and Finnish gambling's last spin

Ukrainians who fled to Finland after Russia’s invasion of their country face an uncertain future as their temporary protection status is due to expire in March 2027.

Interior Minister Mari Rantanen (Finns) has said they may apply for longer-term residence permits, for example, through employment, but for many, the path ahead is unclear.

“No one knows what will happen after March 2027,” Tanja Mustonen of the Ukrainian Association in Finland told Helsingin Sanomat.

Years spent under temporary protection in Finland will not count toward the residency requirement for a permanent residence permit, according to HS.

Starting in early 2026, applicants will generally need six consecutive years of residence in Finland, along with sufficient language skills and work history, to qualify for permanent status.

Tax changes target deductions

Finnish newspapers are still chewing over the tax changes announced by the government and submitted to Parliament on Wednesday, as PM Petteri Orpo’s (NCP) administration looks to bolster state revenues.

Business daily Taloussanomat notes that the series of bills, if enacted, would alter taxation of many people.

One key proposal would eliminate the home office deduction for people who work remotely. In 2023, nearly 400,000 people claimed the deduction, totalling 343 million euros. Taxpayers can still claim it for 2025 income on the spring 2026 tax return, but it would no longer be available on the 2026 return.

In addition, TS writes, the government also plans to end the deductibility of trade union fees, which amounted to 580 million euros in 2023, while unemployment fund contributions remain deductible.

Employer-provided bicycles will become taxable, with existing arrangements staying tax-free for up to five years. The gift tax-free threshold is set to rise to 7,499 euros, and inheritances under 30,000 euros would be exempt, up from 20,000 euros.

Betting on change

Foreign gambling operators are eagerly anticipating the dismantling of Finland’s gambling monopoly, operated by Veikkaus, reports Kauppalehti.

Finland’s gambling system is set for an overhaul in 2027, when online betting shifts to a licensing model. The reform will end Veikkaus’ monopoly and channel tax revenue into state coffers.

The market is estimated to be worth more than 1.2 billion euros, yet Veikkaus captures only a quarter. The rest — some 900 million euros — flows to offshore operators in a regulatory grey zone. The true scale of this unlicensed market may be even larger.

If approved, the legal reform would open the door for foreign operators to apply for licences, ending decades of monopoly in Finland.

Parliament’s constitutional law committee is in the final stages of reviewing new gambling legislation

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