Close
An analysis by Borenius, Taxand Finland
The Finnish Ministry of Finance recently published a draft legislative proposal suggesting significant changes to its VAT rules for real estate. At the core of the proposal is the removal of existing provisions that allow sellers to transfer the obligation to adjust VAT deductions to buyers. If implemented, this would shift responsibility back to the original taxpayer, increasing the compliance burden for sellers.
The changes are driven by a 2020 ruling from the Court of Justice of the EU, which confirmed that VAT adjustment obligations cannot be imposed on anyone other than the taxable person that made the original deduction.
Henna Jovio, Anna-Riikka Nummi, and Lauri Hatunen from our Finnish member firm Borenius analyse the key proposed changes and the impact on the industry, which you can read here.
For similar content to our Global Guide, subscribe to our mailing list and keep up to date.