Startup tax in Finland

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jack2012
Posts: 62
Joined: Sun Dec 03, 2017 12:58 pm

Startup tax in Finland

Post by jack2012 » Fri Feb 16, 2018 9:40 pm

Hi,

What is tax for startups in Finland? Isnt it like there is no tax for startups for 3 years?

Kiitos



Startup tax in Finland

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betelgeuse
Posts: 2798
Joined: Thu Aug 29, 2013 1:24 am

Re: Startup tax in Finland

Post by betelgeuse » Sat Feb 17, 2018 1:35 am

jack2012 wrote:
Fri Feb 16, 2018 9:40 pm
What is tax for startups in Finland? Isnt it like there is no tax for startups for 3 years?
There is no special tax scheme. Usually startups pay no tax because they don’t make any profit. Any revenue is invested to growing the business.


Rosamunda
Posts: 10648
Joined: Fri Jan 02, 2004 12:07 am

Re: Startup tax in Finland

Post by Rosamunda » Sun Feb 18, 2018 10:23 am

There is also a VAT scheme for small businesses called
ALV alarajahuojennus where the company gets a rebate if the annual turnover is less than 30k.


Rosamunda
Posts: 10648
Joined: Fri Jan 02, 2004 12:07 am

Re: Startup tax in Finland

Post by Rosamunda » Sun Feb 18, 2018 12:07 pm

Or are you thinking of national insurance contributions (YEL?)? If I remember correctly, there is a 3-year discount for those.


jack2012
Posts: 62
Joined: Sun Dec 03, 2017 12:58 pm

Re: Startup tax in Finland

Post by jack2012 » Sun Feb 18, 2018 5:17 pm

Rosamunda wrote:
Sun Feb 18, 2018 12:07 pm
Or are you thinking of national insurance contributions (YEL?)? If I remember correctly, there is a 3-year discount for those.
Something like this. I do not remember completely but I think, I heard something like this in any seminar related with startup. Can you please give me link for more info? Or, what should I google for more info?


heretostay
Posts: 129
Joined: Sat Apr 08, 2017 12:54 pm

Re: Startup tax in Finland

Post by heretostay » Sun Feb 18, 2018 7:03 pm

I suggest contacting this organization for free business/start up advice. https://newcohelsinki.fi/en/


Rosamunda
Posts: 10648
Joined: Fri Jan 02, 2004 12:07 am

Re: Startup tax in Finland

Post by Rosamunda » Sun Feb 18, 2018 10:35 pm

jack2012 wrote:
Sun Feb 18, 2018 5:17 pm
Rosamunda wrote:
Sun Feb 18, 2018 12:07 pm
Or are you thinking of national insurance contributions (YEL?)? If I remember correctly, there is a 3-year discount for those.
Something like this. I do not remember completely but I think, I heard something like this in any seminar related with startup. Can you please give me link for more info? Or, what should I google for more info?
https://newcohelsinki.fi/app/uploads/20 ... rkkoon.pdf

- YEL discount is as follows (see page 57 in the booklet):

A new entrepreneur will receive a discount of 22 % for
the first 48 months. Thus, the insurance premium for
new entrepreneurs between the ages of 18 and 52
is 18.798 %,


- The VAT relief calculation is on page 77

Almost everything you need to know to calculate your taxes and other contributions is in that booklet.


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