13 Finland | Commentary

Penalties

13 Finland | Commentary

Penalties and interest

Penalties

The Finnish VAT system contains a number of penalty provisions designed to encourage compliant behaviour from taxpayers. In addition, the penalties are geared towards encouraging taxpayers to take reasonable care in the process of fulfilling their obligations under the VAT system.

If the business does not pay its VAT by the due date, interest at 7% pa is assessed starting from the day following the due date for payment.

If the business does not file its VAT return by the due date, a penalty of €3 per day is payable for each day that the return is

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