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Activity Feed Forums EU Member States Finland Covid-19 VAT measures available in Finland

  • Covid-19 VAT measures available in Finland

    Posted by Caryn on 11 May 2020 at 9:08 am
    • There are no filing or payment deadline extensions for Finnish VAT returns (or other indirect taxes) i.e. must still be filed and paid by the 10th of the month or quarter after the reporting period. However, taxpayers may apply to the Tax Authority (NBT) for the late filing penalty fee to be waived up until 31 August 2020 if the taxpayer has a valid reason e.g. if late filing was prevented due to illness such as COVID-19.
    • Late VAT payments will be subject to a reduced late interest charge of 4% instead of 7% until 31 August. It may also be possible for interest on late payments to also be waived if the taxpayer contacts the NBT in advance. The first repayment of deferred VAT payments is due by 30 November 2020.
    • VAT refund applications will be processed by the NBT on an accelerated basis during the coronavirus crisis.
    • VAT loans with interest of 3% are available during Covid-19 pandemic which allows businesses to apply for a temporary refund of prior VAT payments in relation to 2020 VAT returns.
    • Customers may demand e-invoices from suppliers from 1 April 2020 with the usual invoicing requirements being relaxed during the coronavirus pandemic.
    • Medical devices imported from outside the EU are exempt from customs duties and VAT (Source: Vero Skatt)
    Caryn replied 4 years ago 1 Member · 0 Replies
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