Finland in a turn for a good faith has come up-front in the middle of the GST talks and discussion, to quickly see the benefits and implementation into the financial structure of the nation. The Finnish country is very much delighted to see the rise of new taxation regime as the nation is sure of its outcome in a certain positive manner.
Ambassador of Finland in India, Nina Vaskunlahti said that “We are looking forward to GST, This will help remove multiple layers of taxes and state-specific tax laws and we understand GST will help towards ease of doing business and heard of Indian judiciary system, which often has less number of judges. She hoped the country’s legal infrastructure is well in place to resolve disputes and concerns in a short time.”
The responsible ambassador also mentioned there are over 100 Finnish companies which are currently operating in India and watching the upcoming taxation regime, the number can also rise significantly as the operational and process of doing business will be a lot easier and transparent helping in boosting the economic transactions.
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While the Indian contribution towards the Finland was mainly into the pharma, textile, raw material, plastics, tools, and machinery as the country depend on such products basically on India. The accounting figure reached a good €330 million last year and was added to the countries economic benefits instantaneously.
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On a positive note, Finland has been continuously raised its interest in the Indian origin of commerce and the fact that it has diversely invested a total sum of $388 million between March 2000 and August 2015 has been very evident that the foreign country is expecting to increase the trade and wants to build a firm trading relation between both the countries.