Finnish log sales boosted by tax news

Finnish log sales received a boost during the last week of July thanks to the government’s proposal to cut taxes on the sale of domestic logs.

Domestic log sales increased above the long-term weekly average to more than 500,000m³ during the week, according to the Finnish Forest Industries Federation (FFIF).

The increase immediately followed news of the government’s proposal to cut the tax by 50%, which includes a retrospective clause for all sales dating back to April 1. The tax legislation will be tabled in September.

However, FFIF reported that domestic log sales in July totalled 12.8 million m³, a fifth less than a year ago.

Total sales for January-July were 12.2 million m³ – about half the corresponding figure last year.