Finland Tax Agency Issues Updated Guide on VAT Liability Relief for Small Businesses

The Finnish Tax Administration April 13 updated Guide No. VH/689/00.01.00/2023, on the increase in the lower threshold for small business VAT liability, to 15,000 euros (US$16,510) from 10,000 euros (US$11,003), for financial periods beginning on or after Jan. 1, 2021. Topics covered include progressive relief from VAT liability for turnover from 15,000 euros to 30,000 euros (US$33,018), and the calculation of turnover and relief. Updates include: 1) the exclusion from the turnover calculation for certain sales made due to the coronavirus pandemic to EU agencies or the European Commission (EC); 2) a clarification that goods for self-use are considered sales ...