As the coronavirus situation continues, the Tax Administration's customers will again have an opportunity to get extra time for paying taxes on easier terms than usual. The aim is to ease the payment difficulties of companies and entrepreneurs, in particular.
The Ministry of Finance is preparing an amendment to the law on late-payment interest on the taxes, and at the same time the Tax Administration will facilitate other terms of the payment arrangement.
The interest rate on the tax debt will be temporarily reduced from 7% to 2.5%. Starting 1st of May, the reduced interest rate would apply to all unpaid taxes covered by payment arrangements.
The payment arrangement gives you more time to pay taxes. The Tax Administration will not send your tax debts to the enforcement authorities for recovery if the payment arrangement is in force.
You can apply for the new payment arrangement based on easier terms in MyTax (OmaVero) from April 21. It is possible to apply even if the previous payment arrangement is still in force, as well as in case it has expired.
After Tax Administration has started processing the taxpayer’s application, authorities stop the recovery of taxes that are included in it and there are no publications of the company’s tax debt in the tax debt register.
More detailed information can be found at Finnish Tax Administration website
Published 19.04.2021, FINREPO