Veronhyvitykset

Veronhyvitykset are tax credits used in Finnish taxation. They are credits against the amount of tax owed, reducing the taxpayer's liability either by lowering the tax due or, if refundable, by paying back part of the tax to the taxpayer. They serve social and economic policy goals by easing the tax burden for certain groups or activities.

The Finnish Tax Administration (Verohallinto) administers veronhyvitykset. The availability and size of credits are defined in Finnish tax legislation and may change annually as part of the budget. Many veronhyvitykset are tied to personal circumstances (such as family status or income level) and are calculated automatically when possible. Some credits are included in the esitäytetty veroilmoitus (pre-filled tax return); others require the taxpayer to claim or verify eligibility when filing.

Types of veronhyvitykset: broad categories include general tax credits that apply to most taxpayers, family-related credits aimed at households with children or dependents, and specific reliefs related to employment, housing, environmental measures, or investments. The exact credits and conditions can vary from year to year, so taxpayers should consult the current tax guide or Verohallinto’s website for up-to-date information.

Claim process: Most credits are reflected in the annual tax assessment; corrections or adjustments can be made if new information arises. Non-refundable credits reduce the tax owed to zero but do not create a refund; refundable credits can result in a payment to the taxpayer if the credit exceeds the tax due.