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In statutory audits, value-added taxation is often given only limited attention, which can result in material VAT risks remaining unidentified. However, when supported by the right expertise, the audit process presents a valuable opportunity to uncover VAT-related exposures. At Tuokko, auditors and VAT experts work in close collaboration to ensure that this opportunity is fully…

Earlier this year, we explored certain aspects of VAT and transfer pricing in our article. The Court of Justice of the European Union (CJEU) has now delivered one of the preliminary rulings referred to therein, providing further clarification on these matters. In the decision, the CJEU did not expressly rule whether a price established using…

more services What our customers say our values Professionalism Expertise is at the heart of what we do. We continuously develop and maintain our key asset – our skills and competences. We closely monitor and adapt nimbly to our ever-changing business environment. Confidentiality We are an independent company that processes all of our data confidentially.…

Sections 10 and 24 of the Personal Data Act (523/1999)Creation date: 28/7/2021Updated 31/1/2022 In the privacy statement, we explain what kind of personal information we may collect about you when you order our services or contact us through Oy Tuokko Ltd’s website and for what purposes we may use such information. By using our website,…

The Finnish Government has published its General Government Fiscal Plan for the years 2026–2029. The plan sets out numerous policy guidelines for the development of tax legislation through the end of the current decade. Several of the proposed changes, if implemented, would have a significant impact on both corporate and personal taxation of entrepreneurs. While…

Transfer pricing refers to the pricing of transactions between related parties in accordance with the arm’s length principle. In particular, retrospective adjustments to pricing (transfer pricing adjustments) may often create uncertainty regarding their VAT treatment. Value-added taxation fundamentally differs from corporate income taxation in nature, which may lead to the perception that a transfer pricing-related…

Supreme Administrative Court (KHO) 2024:88 In recent Finnish case law Supreme Administrative Court of Finland (KHO) examined how unrealized foreign exchange gains and losses from euro-denominated loans granted by a Swedish company, A AB, to its Finnish subsidiary should be taxed, given that A AB was considered generally liable for tax in Finland based on…

Enactment of the law The general VAT rate will increase from 24% to 25.5% starting September 1, 2024. The timing of the legislative change, the rapid schedule, and its occurrence at the end of the summer vacation period present challenges for businesses, which will have a relatively short period to prepare for the change. The…

Effective tax planning is an important part of a company’s business strategy. By acting proactively in relation to taxation obligations, you can enhance your risk management and take advantage of opportunities that require planning. Tax planning can release your company’s resources and the expertise of professionals for your company’s growth and development! Next, our experts…