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
| Rate | Type | Which goods or services |
|---|---|---|
| 24% | Standard | All other taxable goods and services |
| 14% | Reduced | Groceries; Feed; Restaurant and catering services (excl. alcohol and tobacco) |
| 10% | Reduced | Books 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% | Reduced | Sale, 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
Non-Resident : Non-resident businesses without a fixed establishment must register for VAT (nil threshold)
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 the 10th working 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