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The details on beneficial owners must be registered by 1st of July 2020

Based on the Anti-Money Laundering Act, most companies have to register their ultimate beneficial owners with the National Patent and Registration Office by the 1st of July 2020. Some entities are exempted from this responsibility.

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COVID-19: Information on the measures taken in Finland

Update 2nd of July VAT rate change on products to help fight COVID-19

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Increased depreciation on machinery and equipment for the tax years 2020-2023

The Finnish government is trying to boost investments with a new incentive that entered into force on 1st of January 2020. Generally, the depreciation percentage on machinery and equipment in a company’s income taxation is 25% of the residual value of initial outlay.

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