Change in tax or gross income

[jack2012]

Hi,

Is it correct that once I have tax card with certain amount, I cannot reduce it at all. For example: Gross income is 20000 and tax rate is ~9%. If something goes wrong then it is impossible to reduce it. Person has to pay 9% even if income goes to 12000 where tax is around 3%.

Please advise how it goes in Finland?

Kiitos

[Beep_Boop]

You can adjust your self-calculated tax percentage whenever you want. If you don't adjust it and you end up over-paying, you'll receive the amount you over-paid around the following year's Christmas.

[betelgeuse]

You can adjust your self-calculated tax percentage whenever you want.

Technically it's not self-calculated. It's calculated by the tax authority based on applications or data from previous years.

Please advise how it goes in Finland?

"You can request and print out a new tax card for wages, salary, secondary income, benefits or seafarer's income."

https://www.vero.fi/en/e-file/TaxCardOnline2017/

[ruusu25]

All you have to do is call or visit your local tax office, tell them how much money you've earned so far this year, how much tax (veroennakko on your most recent pay stub) you've paid so far this year, and how much money you still plan to earn this year (or alternatively, what you expect your new annual gross income to be). They'll plug the numbers into their system and give you a new tax card. You in turn have to give the new tax card to your employer so they adjust your tax rate.

If you're lucky enough to have an EEA-issued ID card and have asked your bank to grant you TUPAS permissions, you can also just log into Vero's website using your online banking ID and do this yourself.

[markmorales]

Hi,

Is it correct that once I have tax card with certain amount, I cannot reduce it at all. For example: Gross income is 20000 and tax rate is ~9%. If something goes wrong then it is impossible to reduce it. Person has to pay 9% even if income goes to 12000 where tax is around 3%.

Please advise how it goes in Finland?

Kiitos

hi... I am here to advice No worries you can change your tax card anytime if your income changes.
Just update your estimate on Vero's website and get a new card with the correct rate.
Your employer will apply the new rate from then on.
If you overpay, you will get it back after the final tax calculation. In Finland, you can update your tax card anytime if your income changes, and any overpaid tax will be refunded after year-end. I think this will help u...