tax card!!

[sabsum]

Hey there !
Expert workers in finland...........
I hav been trying to collect info abt tax system in finland,but can't find enough.I tried to ask couple of my finnish friends abt the tax system,but even they said that they dont hav clear concept
My friend has a tax card estimating amount of 12000€ as her annual income.By the end of Nov,she already earned 11,900.Ofcourse,her next salary is going to b more than 100...........and she was asking if she has to make a new tax card n give it to her employer before she gets her next salary.

I couldnot help her with this ques.Is there any difference between making a new card before and after her next salary?What would u suggest?Plz....her next salary date is 23rd and she might hav to rush !
thank-u

[onkko]

Go vero for new tax card. You end up to pay same amount anyway so its easier this way.

[Mook]

you can also apply online...

[sabsum]

btw do we hav to pay fine,if we go to make a new tax card after our salary exceeds the estimated income?

[onkko]

btw do we hav to pay fine,if we go to make a new tax card after our salary exceeds the estimated income?

No, thats just adjusting it to real income. Estimated income is just wild quess and no one can predict what really happens.

[Mustikka poika]

You can either ask them a new card by explaining the situation or you can just sit calmly and then you will pay the difference lafter they send you your tax details in April

[sabsum]

I remember a day few weeks before,some of my colleagues were happy abt getting money back while some were sent the amount they hav to pay!
I would like to know sthg abt the procedure of additional tax percentage,i.e 26%............when do they charge this?

thanks!

[Rosamunda]

Tyr reading some of this information. It explains the system quite simply.


http://www.tax.fi/?path=488,494&domain= ... nguage=ENG

http://www.tax.fi/?path=488,493,515&dom ... nguage=ENG

http://www.tax.fi/?path=488,684&domain= ... nguage=ENG

[Rip]

For private individual it does not really matter regarding the final amount of taxes paid if your initial witholding rate is bit low or bit high. If too much is taken it will be paid back at the end of following year, in the opposite case you need to pay additional taxes at the same time, both with a small intrest added. The interest rate is so small that most times it would give small financial benefit to pay to pay too small amount and keep the money in a higher yielding bankaccount to pay the late taxes when they come due, but right now interest rates are low everywhere. If you owe the more than 10 000 euros in unpaid taxes then the interest rate charged from you goes up, but by that time one should have probably got more familiar with the local taxation rlues here anyway.

Also, most salary earners have two precentages calculated in their tax card for withdrawal rate. Lower one for some base level corresponding you estimated annual income and higher one for the part of income that goes above that level. Thye typically model the progressive nature of taxation pretty well, so that even with a moderately high rise (after which a fairly large precentage of your salary would be taxed with higher rate), the total amount withheld still matches pretty well the actual amount of taxes you are in the end supposed to pay.

[Upphew]

I remember a day few weeks before,some of my colleagues were happy abt getting money back while some were sent the amount they hav to pay!
I would like to know sthg abt the procedure of additional tax percentage,i.e 26%............when do they charge this?

When you go over the limit marked at tax card. So quick calculation at vero seems to indicate that you have card for ~15000e/year, so if you earn more then the part that is over is taxed at that additional tax percentage.

[joy1234]

What will happen if you didn't pay tax for some income you had and taxman find it. Will they take you to the court or just issue fine ?

Can you go and tell vero after few years I didn't pay tax for this and that, I'd like to pay now. Is it still a crime ?

[Rip]

What will happen if you didn't pay tax for some income you had and taxman find it. Will they take you to the court or just issue fine ?

Can you go and tell vero after few years I didn't pay tax for this and that, I'd like to pay now. Is it still a crime ?

The first penalty is that you can be ordered to pay more tax than you would have otherwise on that income. Typically the rate is up to 10% extra tax, up to 30% if the offence is considered aggravated. Serious enough can also taken into court which may slap additional fine and even jail time.

Based on the content of the page http://www.vero.fi/default.asp?path=5,4 ... ERO_MAIN#4 (Finnish)
it would seem (I am not a lawyer etc...) that for private individual for non reported income up to 6000€ the penalty is not higher than 300€, if it is considered that your offence was merely a unintentional mistake there will be no penalty for unreported income up to 5000 e.

[raamv]

mostly...the new return will only come after a year..