Yhteisöverolaki

Yhteisöverolaki, or the Corporate Income Tax Act in English, is Finnish legislation governing the taxation of companies. This law specifies the rates, rules, and regulations for how corporate profits are taxed in Finland. The primary goal of the yhteisöverolaki is to ensure that companies contribute to public finances through their earnings.

The law defines what constitutes taxable income for corporations, including various forms of revenue and gains. It also outlines deductible expenses, which are costs incurred by a company in the course of its business operations that can be subtracted from gross income to arrive at taxable profit. These deductions can include salaries, rent, raw materials, and depreciation of assets.

The yhteisöverolaki establishes the corporate income tax rate, which is a percentage applied to the company's taxable profit. This rate is subject to change by the Finnish Parliament. The law also addresses special situations such as losses, which can typically be carried forward to offset profits in future years, and international taxation aspects, such as avoiding double taxation of profits earned by Finnish companies abroad or by foreign companies in Finland. Compliance with the yhteisöverolaki is overseen by the Finnish Tax Administration (Verohallinto).