VAT Returns – Finland

Finland

VAT Name :
Arvonlisavero (ALV)

VAT Number Format :
12345678 (8 characters)

VAT Information Offices :
Uudenmaan yritysverotoimisto, Uusimaa Corporate Tax Office, PO Box 30, 00052, Vero

RATES

RateTypeWhich goods or services
24%StandardAll other taxable goods and services
14%ReducedGroceries; Feed; Restaurant and catering services (excl. alcohol and tobacco)
10%ReducedBooks and e books; Pharmaceutical products; Physical exercise services; Film screenings; Entrance fees to cultural and entertainment events; Passenger transport; Accommodation services; Royalties for TV and public radio; Subscriptions to newspapers and periodicals
0%ReducedSale, rental and chartering of vessels and work performed on them; Sales of members magazines and advertisements to non-profit organisations

EXEMPTIONS

  • Leasing and letting of immovable property (an option to tax can apply in certain cases)
  • Letting of residential property (excluding short-term letting)
  • Letting of commercial property
  • Financial and insurance services
  • Health care and medical services
  • Social services
  • Supply of land (other than building land)
  • Supply of buildings other than new buildings
  • Services for general education and vocational training
  • General postal services
  • Fees paid due to copyright
  • Lottery and gambling services
  • Activities that involve fees paid to certain performers
  • Sale and rental¬† of real estate or shares in a housing company

THRESHOLDS

Registration Threshold : EUR 10.000
(below threshold registration can be on a voluntary basis)
Dispatches : EUR 600.000
Arrivals : EUR 600.000
Distance Selling Threshold : EUR 35.000
Intra-Community Acquisition Threshold : EUR 10.000
VAT Free Shopping for Tourists : EUR 40

PENALTIES

Late Filing : 1-45 days – EUR 3 per day to a maximum of EUR 135; over 45 days – day-based charge EUR 135 plus additional interest of 2% of tax to be paid
Max Penalty : EUR 15.000 plus interest of 14% of tax to be paid

Other :
– Penalties apply in cases of tax fraud, evasion, etc.

DEADLINES

Assessment Period : 3 years
Standard Tax Period : Monthly
EC sales list filings : 20th day of the following month of the reporting period
Intrastat filings : normally 14th day of the following month of the reporting period

Other tax periods on request, if turnover is <EUR 35.000 per year or < EUR 100.000 per quarter
Primary producers and visual artists – yearly reporting period