Buying shares / ETFs in Finland & tax

doajob · Post by **doajob** » Tue Sep 27, 2016 11:41 am

Hi all,

I was thinking of starting to invest a little bit of my savings in the stock markets. When living in my home country I did this and reported the capital gains and dividends myself on the tax returns.

A friend mentioned that everything is automatic here. Is that right? So for example if I opened an account with Saxo Bank, they would handle all tax issues when I receive dividends and if I was to sell at a profit? This would all feed into my tax return with Vero automatically?

I am an employee here in Finland and my employer handles all tax paperwork, and don't fancy the hassle of potential tax paperwork if I was to start investing here.

Cheers!

**Sponsor:**

Upphew · Post by **Upphew** » Tue Sep 27, 2016 1:23 pm

doajob wrote:Hi all,

I was thinking of starting to invest a little bit of my savings in the stock markets. When living in my home country I did this and reported the capital gains and dividends myself on the tax returns.

A friend mentioned that everything is automatic here. Is that right? So for example if I opened an account with Saxo Bank, they would handle all tax issues when I receive dividends and if I was to sell at a profit? This would all feed into my tax return with Vero automatically?

I am an employee here in Finland and my employer handles all tax paperwork, and don't fancy the hassle of potential tax paperwork if I was to start investing here.

Cheers!

I wouldn't use bank that didn't answer to that question. I suppose you asked from them? With current online age you might think that company is doing business in Finland when they in fact have just translated their pages.

betelgeuse · Post by **betelgeuse** » Tue Sep 27, 2016 2:28 pm

doajob wrote: A friend mentioned that everything is automatic here. Is that right? So for example if I opened an account with Saxo Bank, they would handle all tax issues when I receive dividends and if I was to sell at a profit? This would all feed into my tax return with Vero automatically?

They are only automatically required to report if they are registered in Finland. Otherwise they can opt in but do not have to. For example Degiro offers services in Finnish but does not report anything to Vero.

doajob · Post by **doajob** » Tue Sep 27, 2016 4:38 pm

Thanks for the replies. Saxo seem to have dedicated operations in Finland, Nordnet too.

Does anyone have any experience with these handling the tax returns on behalf of their customers?

betelgeuse · Post by **betelgeuse** » Tue Sep 27, 2016 5:26 pm

doajob wrote:Thanks for the replies. Saxo seem to have dedicated operations in Finland, Nordnet too.

Does anyone have any experience with these handling the tax returns on behalf of their customers?

Nordnet does. No idea about Saxo.

meplusthree · Post by **meplusthree** » Thu Sep 29, 2016 7:45 am

With foreign banks like Saxo bank, Nordnet, information will not automatically transfer

Minor error with this

- Nordnet does report to Vero and if you trade in foreign shares using Nordnet they will be reported electronically to Vero.

See here https://www.vero.fi/download/Tietuekuva ... E%7D/12199 for the full spec for the reporting of ' Purchase and sale itemization for Securities and Derivatives (VSAPUUSE)'

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