The gaming industry is yet again a gold mine for entrepreneurs in Finland, income tax data revealed by the Tax Administration as part of Tax Day on Wednesday revealed.
Taking the pole position in 2021 was Ilkka Paananen, the founder of the Helsinki-based gaming company Supercell, with €58.6 million in earnings. Trailing behind €46.3 million was Ilkka Teppo, the founder of the gaming company Reworks.
With taxes being so high in Finland, Paanen paid close to €21.9 million in income tax, while Teppo paid €15.7 million.
The data also pointed to many companies doing well in 2021, despite the pandemic.
Corporate tax revenues almost reached an all-time high, and the taxman pocketed some €7.3 billion from Finnish companies. For example, Supercell paid €153 million and was the biggest corporate taxpayer in the country.
Finland’s practice of making income tax information public has been criticised, with some claiming it spreads unnecessary jealousy.
Still, some citizens can ask to remove their names from the list, something 1,700 people did this year. Top politicians cannot afford to shy away from the list. For example, Prime Minister Sanna Marin’s earnings in 2021 were €200,890.
Meanwhile, those earning more than €100,000 per year only account for 3% of income earners. However, their share of all income tax revenues is more than 20%.
Still, the middle class does most of the heavy lifting as 13.3% of all income earners belong to the group earning €50,000-100,000 a year who contribute 33.5% to all income taxes, Finland’s Taxpayers Association said.
(Pekka Vänttinen | EURACTIV.com)
Source: euractiv.com
