​On June 28, Parliament approved the amendments to the Value Added Tax Act proposed in the government proposal (HE 61/2024). The proposal is related to the state's second supplementary budget proposal for 2024. The amendments to the Act were approved after the votes in accordance with the Finance Committee's report.

With the changes in the law, the general value-added tax rate will rise from 24 percent to 25.5 percent. The tax on insurance premiums will also rise from 24 percent to 25.5 percent, as the tax rate on insurance premiums has followed the general value-added tax rate.​

The increases are estimated to strengthen the public finances by around 3 billion euros starting in 2025. In the government proposal, it has been proposed that the amendments would enter into force on September 1, 2024. ​