Commentary

Cash accounting

13 Finland
13 Finland | Commentary

Cash accounting

13 Finland | Commentary

Special schemes

Cash accounting

Finland introduced a form of cash accounting for small businesses with a turnover of less than €500,000 with effect from 1 January 2017. These businesses can account for VAT on a cash basis for domestic transactions in Finland and there is no requirement to make an adjustment at the end of the financial year to convert to an accrual basis.

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