Finland: Tax Administration Publishes Guidance On Advance Tax Withheld On Dividend
Finish Tax Administration published guidance, on 26 January 2015, on advance tax withheld on dividends paid to resident natural persons and estates of deceased persons. The guidance named “Guidance No. A14/200/2015 of 22 January 2015” specifies
See MoreFinland: Uniform Tax Treatment Of Pension Benefits For Foreign Entities And Finnish Pension Institutions
Starting 2015, and subject to certain restrictions, foreign corporate entities comparable to Finnish pension institutions are entitled to a similar deduction. Under the provisions of Business Tax Act, Finnish pension institutions may deduct the
See MoreFinland: Publishes Its Decision Regarding Obligation To Disclose Tax Information
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
See MoreFinland: Parliament approves Budget Bill For 2015
The Finnish Parliament approved the Budget of around 53.9 billion euros for 2015 on 19 December, 2014. A summary of the Budget is as follows: Total Budget amount is 53.9 billion euros. Deficit of 4.7 billion euros which will be covered by
See MoreFinland: Government Publishes Transfer Pricing Guidebook For Companies
The Finish Prime Minister’s Office published a guidebook on transfer pricing (TP) rules for Finnish companies on December 4, 2014. Finland wants to encourage companies to expand business activities abroad and to help foreign companies wanting to
See MoreFinland: Companies must submit reports on construction by November 5
Businesses and self-employed operators who are buyers or customers, including housing companies and real must submit their reports for September to the Tax Administration by October 6. Companies must give details on their contracts if the value goes
See MoreFinland: Bank account number required for tax refunds
Finish tax authorities have urged the taxpayers to inform their bank account so that they can receive tax refunds directly to their bank account, especially those who have a new or changed bank account. If the taxpayer already has bank account
See MoreFinland: Companies must submit reports on construction by October 6
Businesses and self-employed operators buying construction services must file monthly reports to the Tax Administration by October 6. Companies must give details on their contracts if the value goes over the 15,000-euro threshold. All customers must
See MoreFinland: E-service on VAT special launched
Registration of VAT special scheme starts from 1 October 2014. Companies can submit the information through an e-service. Companies selling telecommunications, radio and television broadcasting and electronic services to consumers in the EU must
See MoreFinland: Government Agrees To Tax Hikes For 2015 Budget
After weeks of one-on-one and full-cabinet negotiations, on August 28, 2014, the Finish Government has agreed on the 2015 budget proposal. The proposal is mainly based on decisions made in the General Government Fiscal Plan last spring and in the
See MoreGovernment of Finland approves 2015 budget
After weeks of one-on-one and full-cabinet negotiations, the Government has agreed on the 2015 budget proposal. The proposal is mainly based on decisions made in the General Government Fiscal Plan last spring and in the Government Programme in June.
See MoreFinland decides against VAT increase as taxes rise
On 25 March 2014 Finland is to put through some tax rises and benefits cuts in an attempt to lower the budget deficit. Other Scandinavian countries have VAT rates as high as 25%, and Finland has for some time been considering an increase in VAT.
See MoreFinland and Chile Sign US FATCA
On March 5 2014 the United States signed intergovernmental agreements (IGAs) with Finland and Chile to implement the Foreign Account Tax Compliance Act (FATCA). A total of twenty four of these IGAs have so far been signed by the US in connection
See MoreUS: Finland and Chile Sign FATCA Pacts
On March 5, 2014 the United States signed intergovernmental agreements (IGAs) with Finland and Chile to implement the Foreign Account Tax Compliance Act (FATCA). To date, twenty four of these bilateral agreements have been signed between the US and
See MoreFinland- TIEA with Panama entered into force
On 9 January 2014, Finland's Ministry of Finance announced that the cabinet of ministers approved regulations ratifying the tax information exchange agreement between Panama and Finland. Certain provisions of the treaty come into effect from 20
See MoreFinland: decree on blacklist countries updated
The Ministry of Finance of Finland published Decree No. 1284/2013 on 31 December 2013. This covers countries where the tax burden differs significantly from that in Finland; the blacklist applies in implementation of the controlled foreign company
See MoreFinland-Panama: TIEA enters into force
The Finland – Panama Exchange of Tax Information Agreement (2012) entered into force on 20 December 2013 and applies from that
See MoreFinnish Administrative Supreme Court Order to pay interest on refunds of withholding tax collection
According to the Finnish Supreme Administrative court decision, Finland tax authority must pay interest on refunds of withholding tax collected in contrast to the EU law. The interest rate imposed on withholding tax refunds varies annually. In the
See More