Finland to levy transfer tax on first-time home purchases

THE GOVERNMENT of Prime Minister Petteri Orpo (NCP) on Thursday unveiled a proposal to scrap the transfer tax exemption granted to first-time home buyers in order to partly pay for a wider lowering of the tax rates.

First-time home buyers who meet certain criteria, such as being 18–39 years old and acquiring at least a 50 per cent stake in the property, will be exempt from the tax until year-end.