World Tax - Home
The comprehensive guide to the world's leading tax firms

Finland

Market overview Printer-friendly version

Tax authorities

National Board of Taxes
Finnish Tax Administration, OCR Service, Corporate, PL 200, 00052 VERO
Tel: 020 697 051 (from inside Finland); +358 20 697 024 (from outside Finland)
Website: www.vero.fi

Tax rates at a glance

(As of September 2014)

Corporate tax rate 20% (a)
Capital gains 20% (b)
Branch tax 20% (c)
 
Withholding tax
Dividends 20% (d)
Interest 0% (e)
Royalties 20% (f)
 
Net operating losses (years)
Carryback 0
Carryforward 0
  1. The rate reduced from 24.5% to 20% for financial years ending on or after January 1 2014.
  2. 32% for capital income exceeding €40,000 ($53,000)
  3. Branches are taxed at the same rates as domestic companies. There is no branch remittance tax.
  4. Dividends paid to a nonresident company are taxed at a rate of 20% (reduced from 24.5% for financial years ending on or after January 1 2014), unless the rate is reduced by an applicable tax treaty or the dividends are paid to a qualifying EU parent company under the EU parent-subsidiary directive. If paid to an EEA resident shareholder, domestic nondiscrimination provisions may lower the withholding tax rate to a level corresponding to similar domestic distributions.
  5. Interest paid to nonresidents is subject to withholding tax only in exceptional cases. Interest paid on bonds, debentures (and other such debts), bank account deposits, accounts originating from international trade or debt that is not equivalent to equity is exempt from tax. If interest is deemed to be a hidden profit distribution, withholding tax is levied on the payment at a rate of 24.5%, unless a tax treaty provides for a lower rate.
  6. Royalties paid to a nonresident company are subject to a 20% withholding tax (reduced from 24.5% for financial years ending on or after January 1 2014), unless the rate is reduced under an applicable tax treaty or the royalties are paid to a qualifying EU related company under the EU Interest and Royalties directive.

Leading firms

Finland's economic problems continue in 2014, as the economic growth forecast for the country was lowered to 0.2% from 0.5%. Growth has been falling since 2012, but is predicted to rise again this year as exports and private consumption pick up, the ... [more]

KPMG has one of the largest Finnish tax teams and provides a full spectrum of tax services. The firm is widely respected in the market. Timo Torkkel has been senior partner of the practice for more than 10 years. KPMG has several dedicated service lines ... [more]

PwC

PwC has received praise from other advisers for its expertise across service lines, and has a number of leading names. Alongside KPMG it is one of the largest firms in Finland and can draw on the depth of the tax team, cross-service line solutions and ... [more]

Borenius, Taxand Finland represents the Taxand network in Finland. The practice is headed by Janne Juusela, who runs a team of three partners, and 11 fee earners, which make up large corporate tax and strong litigation teams. The firm is well-regarded ... [more]

In corporate tax, Juusela has been involved in defending a multinational client during a tax audit about a $90 million group restructuring and has advised on a $75 million matter relating to EU law compatibility with Finnish bank tax legislation. Specialist ... [more]

EY

Kari Pasanen leads the tax practice of EY in Finland, and is supported several other partners. Tita Joki-Korpela heads indirect tax; Raimo Hietala leads transaction tax; Elina Helokoski is head of business tax; and Kennet Peterson is responsible for ... [more]

Hannes Snellman's tax practice has performed strongly this year, though it closed its Danish practice. The team is well known for its skills when tackling difficult tax litigation cases, as well as structuring M&A deals. The firm advised Microsoft on ... [more]

Alder & Sound has been involved in a number of high profile matters in the past year. These have included several large restructuring deals in which the firm has advised on cross-border issues. In indirect tax, Hannu-Tapani Leppänen and Henri Becker ... [more]

The two partner tax team of Castrén & Snellman is led by Sari Laaksonen who oversees a team of nine other practitioners. Laaksonen is a recognised practitioner and lecturer on corporate tax, corporate law, and M&A. The team provide can provide a full ... [more]

Antti Lehtimaja and Marko Vuori are the two partners in Krogerus's tax practice, which provides services on an integrated and a standalone basis from the rest of the firm. Lehtimaja's specialities broadly cover the areas of M&A, cross-border transactions, ... [more]

Mika Ohtonen is at the heart of a focused tax and corporate structuring team at Roschier, which specialises in the energy, chemicals, pharmaceutical, financial and forestry sectors. The team offers a range of national and cross-border services, including ... [more]

See also

Finland
Western Europe

Firm contact details