Finland Tax Agency Issues Guidance on Minimum Taxation for Large Groups

The Finnish Tax Administration March 10 issued Guidance No. VH/6109/00.01.00/2024, on minimum taxation for large groups. Topics covered include: 1) the calculation of the effective tax rate; 2) that a group unit’s international shipping income and specified international shipping ancillary income are excluded when calculating the group unit’s specified profit or loss, provided that the commercial or strategic management of the vessels occurs from the jurisdiction of the group unit; 3) that the supplementary tax for low-taxed group units is allocated and paid based on a qualifying domestic supplementary tax, the profit-sharing rule, or the under-taxed profits rule; 4) transitional ...