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Tax reporting in Finland

Annual reporting for Finnish tax authorities package includes the following reports (for more information on report content, go to the Tax administration site):

Annual notification - Asset management fees (VSOMHOIE)

With this report, you can report fees from the management or custody of assets on a customer-by-customer basis in the format required by the Tax Administration.

Annual notification - Contact person (VSTVVYHT)

The report picks up the configured contact person information and arranges it according to the technical description.

Annual notification - Foreign dividends (VSULKOSE)

This annual notification report is for the Finnish tax authorities about foreign dividends.

The report contains information on all the dividends from securities whose country code is not "FI".

Annual notification - Payments of interest, calling for withholding of tax at source (VSKTVYSL)

This report "Payments of interest, calling for withholding tax at source". Picking up these from the system is done by defining transaction types to look for, and then summed up of those transactions. Process will by default calculate the paid tax from transaction's tax fields including all tax types, but with configuration this can be narrowed to only selected tax types.

Note

The process currently supports only reporting of interest type 8B = Interest on bonds and debentures.

Annual notification - Profits and shares (VSTVERIE)

This process creates an annual report of shares in funds and payments of interest.

FA supports these types:

  • 2B and 2G. With these types, the fund management company can report units and income units from its own funds.

  • 2D - Other interest or capital gains.

  • 2E - Secondary market credit paid by the issuer of the annual return to the taxable person (taxable capital gains).

  • 2F - Post-market credit collected (received) by the issuer of the annual return from the taxable person (deduction in the taxable person's taxation).

  • 3J - Return paid on a unit of a foreign UCITS.

  • 3K - Interest paid / transmitted outside the EU.

  • 3L - Foreign UCITS share.

  • 3M - Interest paid / transferred from another EU Member State.

Annual notification - Purchases and sales (VSAPUUSE)

This report is for reporting purchases, sales, capital gains and losses for securities and derivatives. Role 1 reporting is transaction-based, while roles 2-4 are reported per owned securities.

The FA supports the reporting of securities trading data with roles 1, 2, 3 and 4.

  • Reporting role 1 (reporting obligation of the securities intermediary) - the role reports all purchases and sales (excluding bonds, security type codes 07 and 57). The reporting obligation applies to both general and limited taxpayers in Finland.

  • Notifier role 2 (management company disclosure obligation) - the role is used to report redemptions under security type code 05.

  • Reporting role 3 (data for calculating gains and losses on disposals of securities) - the role is used to report sales (excluding bonds, security type codes 07, 45, 46 and 57). The obligation to notify applies to the sale of securities of natural persons and estates of taxable persons both in Finland in general and to a limited extent.

  • Notifier role 4 (instead of notifier role 3, obligation to declare bonds) - the role is used to report sales (including bonds, security type codes 07, 45, 46 and 57).

  • If both notifier roles 3 and 4 are selected, notifier roles 3 report non-bond sales and notifier roles 4 report only bond sales.

  • If both notifier roles 1 and 4 are selected, no annual notification with notifier role 1 will be issued for sales reported with notifier role 4.

  • If both Advertiser Roles 1 and 3 are selected, then the same sales will be referenced

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