verovuosiin

Verovuosi is the period used for calculating and collecting income taxes in Finland. For individuals, the verovuosi generally corresponds to the calendar year, running from January 1 to December 31. In some cases, such as for certain businesses or entities with non-calendar accounting periods, the verovuosi may be based on a different fiscal year set by accounting practices. Taxes payable for a verovuosi are determined by the income, deductions, and credits reported for that year, and the official tax assessment is typically issued after the verovuosi ends.

The Finnish tax system uses the verovuosi to organize withholding, prepayments, and annual settlements. Tax cards (verokortti) determine the rate of prepayment throughout the year, and adjustments can be made if income or deductions change. After the verovuosi, individuals and businesses submit tax information to the Finnish Tax Administration, which then calculates any final liability, refunds, or additional payments. The process aims to reconcile anticipated tax payments with actual income and deductions from the verovuosi.

In Finnish grammar, verovuosiin is the illative plural form of verovuosi, meaning into the tax years. This form is used in sentences that describe movement toward or relation to multiple verovuosi. The base concept, verovuosi, remains the same: it is the year used for income taxation.

See also: verotus (taxation), verokortti (tax card), ennakkovero (preliminary tax).