Commentary

Accounting records

13 Finland
13 Finland | Commentary

Accounting records

13 Finland | Commentary

Record-keeping requirements

Accounting records

It is a legal requirement for all Finnish VAT registered entities to keep accounting records. These must include:

  1.  

    •     VAT accounts; and

  2.  

    •     copies of all VAT invoices issued to customers.

Normal accounting records should be sufficient, although some business sectors may have additional legal requirements. For example, a business engaged in selling used cars will be required to keep a stock book.

Records must be retained for at least six years from the end of the accounting year, although not necessarily in hard copy. The tax office will normally allow records to be kept on computer

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial