Verotusajat

Verotusajat, or tax periods, refer to the defined time frames used in taxation to determine when income is earned, when taxes are due, and when tax returns must be filed. In Finland these periods help organize how different taxes are calculated and paid, and they shape the timing of obligations for individuals and businesses.

The most common verotusajat include several distinct periods. The verovuosi, the income tax year, is usually the calendar year, and the annual tax return for that year is submitted to the Finnish Tax Administration (Verohallinto). After processing the return, a tax decision is issued in a subsequent period. Ennakkoverot, or provisional/advance taxes, are paid during the year based on estimated tax liability to distribute the tax burden more evenly.

For value-added tax (VAT), verotusajat are the VAT periods. These periods are typically monthly or every two or three months, but small businesses can sometimes operate on different schedules, including an annual VAT return. Corporate taxation follows the company’s financial year, which may align with or differ from the calendar year, and a corporate tax return is filed after the end of that period.

The choice and management of verotusajat affect filing deadlines, payment schedules, and potential refunds or additional payments. They are established by tax rules and the Tax Administration and depend on the taxpayer’s activity and liabilities. Compliance with the applicable periods is essential to avoid penalties and interest.

See also: Verohallinto.