Finland: Ministry of Finance declares their commitment to exchange CbC reports
Finland is committed to the exchange of the country-by-country (CbC) report. On March 8, 2017, an official Gazette was published by the Ministry of Finance. The Gazette states that the government is willing to comply with the Multilateral Competent
See MoreFinland: Tax administration issues an updated version of the guidance on withholding taxes
An updated version of the guidance on withholding tax on dividends, interest and royalties paid to non-residents has recently been published by the Finnish Tax Administration. According to updated version, foreign corporate entities and foreign
See MoreFinland-Turkmenistan DTA entered into force
The income tax treaty between Finland and Turkmenistan entered into force on 10 February 2017. The agreement was signed in the capital city of Turkmenistan, Ashgabat, in December 2015. The agreement follows the model tax treaty of the OECD,
See MoreFinland: E-services rule to reduce VAT refund fraud
The Finnish government is going to add e-service rule in value added tax system from February 1 to mitigate the VAT refund fraud. Taxpayers who are registered for value-added tax must use the MyTax e-service when providing their bank account
See MoreTIEA between Finland and UAE ratified
The Exchange of Information Agreement of 2016 regarding tax matters (TIEA) between Finland and United Arab Emirates (UAE) has been ratified on 15th January 2017 by United Arab Emirates. The treaty has been ratified by the way of Decree No.
See MoreFinland: Parliament ratifies DTA with Portugal
The Finnish Parliament on 21 December 2016 approved the income tax treaty between Finland and Portugal. The treaty was signed on 7 November 2016 in Brussels. The new agreement will be replaced by the existing Finland-Portugal Income and Capital
See MoreFinland: Parliament ratified DTA with Sri Lanka
The Finnish Parliament on 16 December 2016 approved the double taxation agreement between Finland and Sri Lanka which was signed on 6 October 2016 in Colombo. The new treaty will be replaced by the existing Income and Capital Tax Treaty (1982)
See MoreFinland: Parliament ratifies income tax treaty with Turkmenistan
The Finnish Parliament on 16 December 2016 approved the income tax treaty between Finland and Turkmenistan. Turkmenistan has informed that it completed its own procedures at the beginning of 2016. The agreement was signed in the capital city of
See MoreFinland: Parliament approved the Budget bill for 2017
The Finnish parliament approved the budget bill for 2017 on 21 December 2016. The budget proposal was submitted to parliament by Finance Minister on 12 August
See MoreFinland: Tax authority published the social security contribution rates for 2017
The Finnish tax authority published, on 14 December 2016, the applicable rates of social security contributions payable by employees and employers for 2017. For employees: A health insurance contribution consisting of two components; a health
See MoreFinland: Parliament approved new transfer pricing documentation requirements
The Finnish Parliament on 23 November 2016 approved legislation regarding new transfer pricing documentation requirements on country-by-country (CbC) reporting, Master file and Local file measures, and penalty provisions. The documentation
See MoreFinland: Income received from China on mobile games treated as royalties
The Finnish supreme administrative court issued an order that income on mobile games received by the Finnish company from the Chinese company, under the agreement, constituted royalties in accordance with the treaty. The issue in this case was
See MoreFinland: Government submitted a bill to parliament for ratification of Finland- Sri Lanka DTA (2016)
The Finnish government submitted a bill to parliament on 10 November 2016 for ratification of the Finland- Sri Lanka Income Tax Treaty (2016), signed on 6 October 2016 in Colombo. The new treaty will be replaced by the existing Income and Capital
See MoreFinland and Portugal signed an income tax treaty
Finland has signed an income tax treaty with Portugal for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The treaty was signed on 7 November 2016 in Brussels. The new treaty will be replaced by
See MoreFinland: Government published a proposal on Country-by-country reporting
The Finnish government published a proposal to implement the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) initiative on transfer pricing documentation as well as a corresponding EU directive
See MoreFinland: Tightening legislation against money laundering and terrorist financing presented in Parliament
The Finnish government presented a law proposal, on 3 November 2016, tightening legislation against money laundering and terrorist financing to the parliament. Objective of the proposal is to strengthen the money laundering and financing terrorism
See MoreFinland: Government submitted a bill to parliament for ratification of Finland- Turkmenistan DTA (2015)
The Finnish government submitted a bill to parliament on 20 October 2016 for ratification of the Finland - Turkmenistan Income Tax Treaty (2015), signed on 12 December 2015 in Ashgabat. Details of the treaty will be reported
See MoreFinland: Ministry of Finance published budget proposal for 2017
The Ministry of Finance published its proposal for Budget 2017 on 12 August 2016. The tax measures will be discussed by the government on 31 August and 1 September 2016. Details of the tax measures are summarized below. The possibility for setting
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