Veropäivän

veropäivän is a Finnish term that translates to "tax day." It refers to the deadline by which individuals and businesses must file their income tax returns and pay any outstanding taxes. In Finland, the tax year generally runs from January 1st to December 31st. The tax authority, Verohallinto, typically sets the filing deadline for the following spring, usually in early May.

Individuals are required to declare all their income, including wages, capital gains, and rental income. They can also claim deductions for expenses such as mortgage interest, travel costs to work, and certain education expenses. Verohallinto then assesses the tax liability based on the declared information and deductible expenses.

Businesses also have their own specific tax filing and payment deadlines, which may differ from those for individuals. Failure to meet the veropäivän deadline can result in penalties and interest charges. The Finnish tax system is largely based on self-assessment, meaning taxpayers are responsible for accurately reporting their income and claiming eligible deductions. Veropäivän is therefore a significant date in the annual financial calendar for most Finnish residents and companies.