WTS in Finland

News on tax developments affecting the international Financial Services industry.

On 29 July 2024, CJEU issued its judgement in CJEU case "KEVA" (Case C‑39/23) between the Swedish Tax Agency and three Finnish public pension funds, regarding the levy of WHT on foreign public pension institutions.

News on tax developments affecting the international Financial Services industry.

On 22 March 2024, the Supreme Administrative Court issued a ruling (KHO 2024:38) seeking a preliminary ruling from the CJEU regarding the VAT treatment of factoring financial arrangements.

Several changes to the Finnish transfer tax legislation became effective on 1 January 2024.

Since 1 April 2020 all public organisations and private companies can require e-invoices from their suppliers in Finland.

On 12 August 2022, the Ministry of Finance published a preliminary draft government proposal concerning a so-called exit tax on private individuals.

On 7 April 2022, the Court of Justice of the European Union issued its long-awaited judgment (C-342/20) on the Finnish tax exemption criteria. The ruling clarifies the Finnish tax treatment of foreign investment funds established in the form of a company (corporation).

On 8 June 2022, the Finnish Tax Administration published a bulleting stating that the Finnish Tax Administration’s recent control action has revealed many operators that operate a malicious activity to enable investors evade Finnish taxes. 

On 6 October 2021, the Advocate General issued its opinion (Opinion) on Finnish CJEU case C-342/20 and stated that the Finnish tax exemption criteria designed only for contractual funds qualifies as a restriction on free movement of capital.

The Finnish Government has agreed on new tax measures, which aim to strengthen general government finances by a total of approximately EUR 100 million on an annual basis.

Our summary of R&D Incentives provides guidance where such incentives are provided, and who in WTS Global can support you to gain from these incentives for your business or individually the most.

Transactions on crypto assets should be considered as taxable transfers and the tax treatment should be similar to trading on other movable assets. Therefore, potential losses should be deductible in the taxation of the party investing into crypto assets.

New WHT rules are applied to dividends paid as of the beginning of 2021. With the legislation change, amendments were made to the Act on the Taxation of Non-resident Income.