Eva wants to remove the limit on the deposits of the stock savings account

Business life delegation Evahaluaa removes the upper limit of deposits in the share savings account. In Eva’s opinion, the share savings account has failed, and the reason is that the use of the share savings account is watered down with restrictions that do not exist in Sweden.

In her press release, Eva talks about her recent analysis called Pelastäten säästöpossu.

In Finland, stock savings accounts have assets of approximately three billion euros, while in Sweden the taxable value of similar accounts last year was 145 billion euros, Eva says.

“The legislator set a very moderate four billion deposit target for the equity savings account, which has not been met either. The obvious reason for the failure of an equity savings account is that the account is subject to several limitations that dilute the goal. There are no similar restrictions in the Swedish ISK account,” says Eva’s leading tax expert Emmilina Kujanpää in the bulletin.

Kujanpää is one of the authors of Eva’s analysis Marianne Malmgrénin alongside.

Share savings account was introduced in Finland in 2020. In the current year, the government increased the maximum deposit amount to 100,000 euros, while previously the limit was 50,000 euros.

The change was intended to promote equity investment and wealth opportunities for small investors and to increase citizens’ financial knowledge.

With a share savings account, you can trade shares without paying taxes. The time to pay the tax only comes when income is withdrawn from the account.

Last year, the Ministry of Finance estimated that the removal of the deposit ceiling would result in a loss of around 200 million euros in tax revenue at the level of 2027.

Eva suggests that shares acquired before opening the account could be transferred to the share savings account.

“It is contradictory that in order to benefit from a share savings account intended for all small investors, an investor should liquidate his share ownership, pay trading costs, deposit his capital income tax-deducted assets in a share savings account as money, acquire the shares again and even pay the trading costs of the acquisition in order to continue his previous investment activities,” says Kujanpää.

Eva also wants the share savings account to be able to buy investment products other than shares.

Eva is a business think tank that aims for the long-term success of Finnish society. The association’s members include, for example, the Finnish Confederation of Business, the Finnish Trade Union and Finanssiala ry.