Verotettava

Verotettava is a Finnish term that translates to "taxable" or "liable to tax." It refers to an individual, entity, or asset that is subject to taxation by the government. In the context of personal income tax, an individual is verotettava if they are a resident of Finland or if they earn income from Finnish sources. For corporations, a company is verotettava if it is registered in Finland or conducts business activities within the country.

Various types of income and assets can be considered verotettava. This includes earned income such as salaries and wages, capital income like interest and dividends, and business income. Property, such as real estate and vehicles, may also be subject to property taxes, making them verotettava. The specific rules and thresholds that determine what is considered verotettava are defined by Finnish tax legislation.

Understanding one's status as verotettava is crucial for fulfilling tax obligations. This involves reporting relevant income and assets to the Finnish Tax Administration (Verohallinto) and paying the applicable taxes. Failure to comply with tax laws can result in penalties and interest charges. The concept of verotettava is fundamental to the Finnish tax system, ensuring that the state can collect revenue to fund public services.