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Financial and insurance services are exempt from value added tax, with the scope of the exemption set out in law in considerable detail. However, the VAT treatment of other services supplied in connection with financial and insurance services can come as a surprise if the related VAT issues are not addressed in time. It is…

The Court of Justice of the European Union (CJEU) has issued a preliminary ruling clarifying the VAT treatment of transfer pricing adjustments. The Court held that a compensating (i.e. self-initiated) transfer pricing adjustment may, under certain conditions, fall within the scope of VAT. Such an adjustment is subject to VAT only if it constitutes consideration…

Praxity Our international alliance In Praxity, it’s about the people: an alliance of audit, tax and advisory firms that connects members and their clients with quality, expertise and choice globally, underpinned by care and integrity. Praxity unites independent professional audit, tax and advisory services firms to benefit them and their clients by extending their global…

Ex­pert or­ga­niza­tion with a bold ap­proach a customer-oriented service model, and a wide range of financial services. We are an expert organization established in 1971 that has grown into the largest family-owned company in its field in Finland. We offer auditing, financial and payroll administration, as well as taxation and business development services with a…

The accrual, scheduling, and pay of annual leave are governed by the Annual Holidays Act and the applicable collective agreements in the sector. Understanding these rules helps ensure that the use of annual leave is fair and compliant with legislation from both the employee’s and the employer’s perspective. Annual leave Annual leave is determined by…

Payroll calculation is at the heart of payroll administration and one of the most important routines for any company. When salaries are paid correctly and on time, employees can trust their employer and focus on their work. Error-free payroll calculation is also part of fulfilling the company’s statutory obligations. At Tuokko, payroll calculation is handled…