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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tax liability
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.

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