Dear reader,
The topic for this newsletter is “Know What the Finnish Tax Administration is Up To”.
In its newsletter to accounting firms and on its website, the Finnish Tax Administration (Verohallinto) has recently made several announcements, which are relevant to many businesses.
Tax Administration’s Software Update
Verohallinto announced that during the period 15.12.2015-04.01.2016 the company registration-, change- and termination notifications sent through the joint yritys- ja yhteisötietojärjestelmä will not be forwarded to the Tax Administration due to a change in the Verohallinto’s implementation of new software. All the data from those forms will be entered in the sequence of arrival from 04.01.2016. Thus, clients can expect longer data processing times for the tax information. See the news bulletin on Verohallinto’s website.
The software update has also an impact on the use of ALVEU service, which is unusable during 15.12.2015-06.01.2016. Thus, during the mentioned period Finnish companies cannot claim back VAT from another EU country. See more on Verohallinto’s website (in Finnish).
News About 2016
Starting from 01.01.2016 the minimal amount of sales for VAT registration obligation is 10000 EUR(8500 EUR in 2015). This also effects the obligation to provide a receipt. Thus, all businesses in Finland need to register for VAT and provide a receipt to their customers if their annual sales are greater than 10000 EUR (excluding VAT) in the financial year starting on 01.01.2016 or later. A similar change is also applied on the amount of sales allowing a VAT decrease. The maximum amount of sales a business can have to use the VAT decrease option is increased to 30000 EUR (excluding VAT). Companies with sales between 10000 EUR and 30000 EUR (for a 12 month period) can use the VAT decrease option. See more on Verohallinto’s website (in Finnish).
Tax Administration notifies that in the beginning of 2016 the corporate income tax return/declaration forms and the filing instructions will not be sent to companies any more. With such a move they want to encourage even more companies to file the declarations online and also see the filing instructions online. See more on Verohallinto’s website (in Finnish).
In their news bulletin dated 24.11.2015 the Finnish Tax Administration informs that the employers’ social security contribution on salaries paid in 2016 is confirmed at 2,12% (in 2015 it was 2,08%). See more on Verohallinto’s website (in Finnish).
Employees can revise their 2016 tax cards in the Tax Administration’s Tax Card Online service starting from 16.12.2015. 2015 tax cards can still be ordered through the online service until 13.12.2015. See more on Verohallinto’s website.
Additional Questions?
If some of the information above has raised additional questions, please contact us though our website or call +358 503 220 600.
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Our Website
You can find more pieces of valuable information on our website kuljus.eu. For example, we have articles about being an employer, facts about taxes and employer obligations and many more topics. Be sure to check it out, information in there is completely free.
Kind regards,
Lauri Kuljus
CEO of Kuljus Consulting
+358 503 220 600
info@kuljus.eu