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Taxation changes in 2015


Significant changes to Finnish taxation enter into force in 2015. Taxand Finland highlights the key amendments taxpayers should be aware of.

Corporate Income Taxation

The temporary tax incentives concerning depreciations on certain production related investments are continued until the tax year 2016. Also, the right to deduct 50% of the business entertainment expenses has been restored. The taxation of cooperatives has been amended as well, which brings cooperatives’ taxation closer to the corporations’ taxation.

Capital Income Tax

The taxation of capital income has been tightened. The higher tax rate has been raised from 32% to 33%, and the threshold for the higher tax rate has been lowered from EUR 40,000 to 30,000. The base rate for capital income remains at 30%.

Changes to Value Added Taxation

As of 1 January 2015, the place of supply of electronic, telecommunications and broadcasting services to EU consumers by EU supplies was changed. Under the new rule, the place of supply is the place where the consumer is established, has a permanent address or usually resides. Before this, the place of supply of these services was the place where the supplier was established. The new rule means that supplies will be subject to the VAT rules of the EU Member State where the consumer resides. The supplier will be obliged to register, charge and account for VAT at the rate applicable in that EU Member State. 

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Taxand's Take

Taxpayers in Finland should take note of the legislative changes to ensure they remain compliant.

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Heikki Wahlroos

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