Finland Supreme Administrative Court Clarifies VAT Refund Rules for Credit Brokerage Services

The Finnish Supreme Administrative Court March 19 posted online Decision No. KHO:2025:20, clarifying VAT refund rules for companies supplying credit brokerage services. The taxpayer was a company that was part of a Nordic group with a Swedish parent company. The taxpayer mainly supplied VAT-exempt credit brokerage services to banks and financial institutions in Finland, Norway, and other EU countries for a commission. The services were then furnished to customers for free. The Central Tax Board issued a preliminary ruling, holding in part that the taxpayer was entitled to a VAT refund, to the extent the purchases were used for the ...