New TAX ACCOUNT system

[Rosamunda]

The Tax authorities (Verohallitus) are starting to publish information about the new Tax Account system. If you have a toiminimi or a small business (such as an Oy with turnover under 25000€ p.a.) you may have already received some information through the post including a questionnaire which may entitle you to modify the frequency of your tax returns (eg VAT returns once per year instead of monthly as of February 2011).

Basic details are published here:
http://www.vero.fi/?path=488,489&articl ... RO_ENGLISH

In a nutshell, the Tax Account system works a little bit like a bank account where all your debits and credits (VAT, company tax, employer contributions etc) are all in one place. Eventually small businesses will no longer have to submit VAT returns and employer contributions on a monthly basis and it will be possible to net off one kind of tax against another.

[raamv]

[Rosamunda]

The tax account information booklet is not (yet) available in English.

I know the Chamber of Commerce in Helsinki is already giving training courses on the new Tax Account system, so for those of you with a toiminimi or a limited company (and reasonable Finnish skills) it might be a good idea to try and enrol on one of those courses.

I am unaware of any courses in English but if I hear of any I'll post the info on here.

The most important thing is to make sure you use your tax account number (should be in the information package you received through the post) when making payments starting in January.

[Mattlill2000]

Thanks Penelope!

[MovingToFinland]

In Tax Office website is now available information in English as well, www.vero.fi/verotili.

[Rosamunda]

THANKS!

Lots to read...