Update 2nd of July VAT rate change on products to help fight COVID-19
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.
Starting from the beginning of 2021, a foreign entity has a permanent establishment in terms of corporate income taxation in Finland if the effective management of the company is located in Finland.
Place of effective management results in tax liability of foreign entities in Finland
Starting from the beginning of 2021, a foreign entity has a permanent establishment in terms of corporate income taxation in Finland if the effective management of the company is located in Finland.
Change in ownership of RSM Finland Accounting
The financial management service provider Rantalainen has acquired the operations of Helsinki-based RSM Finland Accounting Oy. The sellers are RSM Finland Group Oy, the main shareholders of which are Urpo Pirilä and Seppo Suontausta, and KLT Taloushallinto Oy, owned by Helena Laakso.
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.
LL.M., KLT Risto Kiviranta new CEO of RSM Finland
RSM Finland Ltd has appointed Risto Kiviranta as the new CEO, starting from 15th May 2020. In addition, Mr Kiviranta will continue as the head of Tax Services.
COVID-19: Information on the measures taken in Finland
Update 2nd of July VAT rate change on products to help fight COVID-19
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.
LL.M., KLT Risto Kiviranta, Tax Director
Audit firm RSM Finland has invited Risto Kiviranta as a new partner as of 1 June 2018.
RSM Finland begins collaboration with Fennia
RSM Finland, an audit firm offering financial consultation services, has signed a cooperation agreement with Finnish insurance group Fennia. Fennia and RSM Finland begin their cooperation in order to develop and facilitate the financial management of their clients.