Finland: 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 MoreExchange of information agreement between Finland and Niue signed
According to media reports, Niue has recently signed tax information exchange agreements with a number of countries, including New Zealand and some Nordic countries. On 16 October 2013, Niue signed exchange of information agreements relating to tax
See MoreTreaty between Finland and Tajikistan enters into force
On 5 September 2013, the Finland- Tajikistan Income Tax Treaty (2012) entered into force. The treaty generally applies from 1 January 2014. The new treaty generally follows the provisions of the OECD Model Tax Convention. Under the provisions of
See MoreFinland: Budget proposal for 2014
On 8 August 2013, the Finnish Ministry of Finance published its Budget proposals for 2014. All the proposals will be discussed by the government on 28-29 August 2013 before the final set of proposals is presented to parliament in September 2013. If
See MoreECJ: Decision on state aid and Finland’s tax loss carry forward rules
A case was brought before the European Court of Justice (ECJ) concerning the question of whether Finland’s rules for carrying forward tax losses were contrary to the state aid provisions in Article 107 of the Treaty on the Functioning of the
See MoreECJ: Finland refers a question on VAT on electronic publications
The Supreme Administrative Court of Finland on 23 April 2013 asked for a ruling from the European Court of Justice (ECJ) in respect of the neutrality principle and its implications for the Finnish VAT on books in electronic form. The question put
See MoreTreaty between Cyprus and Finland enters into force
On 28 April 2013, the double tax agreement that was signed on 15 October 2012 between Cyprus and Finland will enter into force. The treaty generally follows the provisions of the OECD Model. Under the treaty the maximum withholding tax rate on
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