Finland questions EU VAT rate reforms

March 15th, 2018

The Finnish government has questioned European Union proposal to allow member states more control of their reduced VAT rates. The Finish Ministry of Finance is concerned that this would lead to intra-state competitive tax cuts. Also, potentially, a highly complex system with many variations on rates for the same products and services across the EU states. This …


Finland import VAT deferment 2018

December 7th, 2017

Importers of goods from outside of the EU into Finland will benefit a import VAT deferment from 1 January 2018. Importers with a Finnish VAT number will no longer be required to pay the import VAT on clearing the goods. Instead, they can wait to self-assess the VAT via their periodic VAT return.  The reforms …


Finland import postponement update

May 13th, 2017

Finland has issued proposals to update its import VAT deferment scheme this month.  The changes include: Importers must report the import VAT due in the same month as the import For VAT-registered businesses The tax office will become responsible for administering the import VAT administration instead of the customs office Non-VAT registered businesses will still …


Finland 2017 VAT changes

December 31st, 2016

Finland is to introduce a range of changes to the VAT regime from 1 January 2016. These amendments include: A new online tax reporting portal, OMAVERO, is to be launched All tax payers must file electronic returns Quarterly VAT returns may only be completed by businesses with an annual turnover of under €100,000 per annum …


Finland to launch VAT cash accounting

September 3rd, 2016

Finland plans to introduce cash accounting basis for VAT reporting. This would mean taxpayers only declaring and paying VAT on sales (output VAT) when the receivable has been collected. There is no scheduled date for the launch of the regime.  It would likely only be offered to small businesses.


Finland VAT registration threshold rise

August 14th, 2016

Finland has proposed raising its VAT registration threshold for resident companies. The threshold will rise from €25,000 to €30,000 per annum for business subject to annual-only returns. For companies subject to quarterly reporting, the threshold would increase from €50,000 to €100,000 per annum.


Finland probes VAT on Uber ride sharing

August 14th, 2015

The tax authorities in Finland have raised concerns that drivers signed-up to UBER, and other ride sharing services, may be evading VAT. Any driver providing paid-for journeys to Uber users will be potential responsible for charging Finnish VAT at 24%. They will be liable to register for Finnish VAT once their income goes above €10,000, …


Finland raises VAT registration threshold

February 12th, 2015

The new Finnish 2015 budget has raised the annual VAT registration threshold for resident businesses from €8,500 to €10,000. VAT registration threshold on non-resident entrepreneurs The threshold does not apply to foreign, non-resident traders from the EU or any other country. They are still required to register with the Finnish authorities if they are providing …