Veromaksu

Veromaksu is a Finnish term referring to the payment of taxes to the government. In everyday language it denotes the monetary obligation arising from taxes or the tax bill that individuals and businesses must settle. The concept covers various forms of taxation that fund public services and social programs.

In Finland, veromaksu is administered by the Finnish Tax Administration (Verohallinto). The tax system includes several main components: income tax on earned and capital income, municipal tax collected by local municipalities, and, for many residents, state tax. Church tax is collected for those who belong to a church. Additional taxes include value-added tax (veronlisävero) on goods and services, property tax (kiinteistövero) for real estate, and various excise duties, capital gains, inheritance and gift taxes. Rates and exemptions vary by individual circumstances and location.

The tax process typically involves annual reporting and assessment. Taxpayers file a tax return after the tax year, and Verohallinto issues a final tax decision (verotuspäätös) outlining the amount payable or refundable. Before and during the year, prepayments (ennakkovero) may be collected, often through payroll withholding or advance payments. Payment deadlines are specified in the tax decision, and late payments can incur interest and penalties. Tax credits and deductions—such as basic deductions, work-related deductions, and family allowances—reduce the final amount.

The term veromaksu is also used colloquially to refer to the overall tax bill rather than a single tax. It reflects taxation’s role in funding public services and shaping fiscal policy.