Taxation in Finland
What is Tax? Tax is one the most known financial terms and instrument of fiscal policy. Taxes are the crucial sources of income for every government and country. They are levied by the governments on individuals and businesses to generate income and regulate national economies. There are a lot of different taxes: corporate income tax; value-added tax; individual income tax, gift tax, inheritance tax, real estate tax etc.
The Finnish Tax Administration is carried out the taxation issues in Finland. It is possible to take care of almost all tax matters through the Tax Administration’s e-service MyTax (OmaVero).
According to the Finnish Income Tax Law / Tuloverolaki 30.12.1992/1535 (in Finnish) the taxpayers may either be residents, which are generally liable to tax, or nonresidents, that are liable to tax, but with some restrictions. Residents are the people who living in Finland, and correspondingly, nonresidents, are people living in other countries. Residents pay Finnish taxes on their income earned in Finland and on income earned in other countries. Nonresidents pay Finnish taxes on their income earned only in Finland. Tax residency and nonresidency
Thus, if you have earned money, received expensive gift, inheritance or any other asset, you are liable to pay taxes.
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