Verokortit

Verokortti, or tax card, is a document issued by the Finnish Tax Administration (Verohallinto) that determines how much income tax should be withheld from an individual’s earnings. It is used by employers to calculate withholding from wages, salaries, and pensions. The card indicates the tax withholding rate and is valid for the calendar year unless personal circumstances change.

A verokortti typically specifies the withholding as a percentage of gross income, and may also define a fixed amount to be withheld in certain situations. The exact format depends on the taxpayer’s expected income, deductions, and employment situation. The document is tied to the taxpayer’s personal information and tax credits, and it is used to estimate the year’s tax liability.

Taxpayers can obtain or update their verokortti digitally through the Finnish Tax Administration’s online services. When starting a new job, the employee provides the verokortti to the employer to ensure correct withholding. If earnings, deductions, or employment status change, the verokortti can be revised to reflect the new circumstances.

If a person does not have a verokortti, or if it is not supplied to the employer, withholding may occur at a default rate or according to other rules, which can lead to inaccurate withholding and a tax balance at year-end. Verokortit are separate from annual tax returns, which individuals file after the tax year.

For official guidance, the Finnish Tax Administration provides instructions and digital services to obtain, view, or update verokortit.