The Finish tax administration published its decision regarding the formal obligation to disclose information to the tax administration, on December 31, 2014. There are multiple items of income and wealth for which information has to be disclosed to the tax administration without a specific request.
Taxpayers obliged to submit the information depends on the type of information concerned that means insurance companies have to report the insurance benefits paid, whereas labor unions have to report the contributions they have received from their members, as those contributions are tax deductible for the payer.
Banks and other financial institutions are required to submit detailed information on debts given to natural persons and estates of deceased persons. The decision also clarifies what kind of information and by which means (electronic or paper) the information has to be submitted.
