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Accounting and Tax Legislation in Finland

Main Finnish Laws on Accounting, Financial Reporting and Taxation

Accounting Legislation in Finland

Accounting, financial reporting and compliance with tax obligations in Finland are regulated by legislation. All companies are required to maintain accounting records, prepare financial statements and comply with tax legislation.

The Finnish accounting system is based on national legislation, regulations, European Union directives, as well as international financial reporting standards. The company's management is responsible for ensuring proper accounting and the timely preparation of financial statements.

This section provides an overview of the main laws and regulations governing accounting, financial reporting, corporate and tax legislation in Finland. These areas of legislation are closely interconnected when running a business. The chosen legal form of a company affects the accounting, financial reporting and taxation requirements applicable to the company. Therefore, entrepreneurs should consider these matters as a whole rather than separately.

Contents

  1. Finnish Accounting Legislation and Standards
  2. Corporate Legislation in Finland
  3. Tax Legislation in Finland

Finnish Accounting Legislation and Standards

Accounting and financial reporting in Finland are primarily regulated by national legislation. Depending on the size of the company, its legal form and the nature of its activities, Finnish Government regulations, guidance issued by the Finnish Accounting Board (KILA), European Union legislation and international financial reporting standards may also apply.

Below are the main legislative acts and standards governing accounting, auditing and the preparation of financial statements in Finland.

Corporate Legislation in Finland

Corporate legislation in Finland regulates the establishment, management, reorganisation and dissolution of legal entities. The rights and obligations of shareholders or members, decision-making procedures and management requirements depend on the legal form chosen for the company.

Below are the main laws governing the most common legal forms of business in Finland.

Tax Legislation in Finland

Finnish tax legislation regulates the taxation of business activities, the calculation and payment of taxes, as well as the rights and obligations of taxpayers. Below are the main laws governing the taxation of companies and entrepreneurs.

Additional information is available in the section "Business Legislation in Finland".

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