Key Figures

Chief of State:
President Sauli Niinistö
Head of Government:
Prime Minister Juha Sipilä

Overview

Government Name:
Republic of Finland
Constitution:
Adopted: 2000; Defines the basis, structures, and organization of government, the relationship between different constitutional bodies, and also elaborates upon the fundamental rights of Finnish citizens.
Government Type:
Republic
Republic of Finland Flag
Coat of Arms of Republic of Finland

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2018)

Country Risk Rating

A2
The political and economic situation is good. A basically stable and efficient business environment nonetheless leaves room for improvement. Corporate default probability is low on average. Source: Coface (2018)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

The executive branch handles foreign affairs (except for certain international agreements and decisions of peace or war), approves laws, may call extraordinary parliamentary sessions, and resides over the armed forces.

The president is elected by an absolute majority vote through a two-round system. The prime minister is appointed by the president with the approval of parliament.

6 years

Judicial

The judicial branch rules on important points of law in cases which are significant for the entire legal order, guiding the administration of justice in future cases.

Supreme court and supreme administrative court judges are appointed by the president of the republic.

Mandatory retirement at 65

Legislative

The legislative branch may alter the constitution, bring about the resignation of the Government, and override presidential vetoes.

The parliament has 200 members elected by open-list proportional representation.

4 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Finnish Ministry of Finance and National Board of Taxes
Tax Name:
VAT

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/library/publications/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/