16 BASIC INFORMATION ON FINLAND Companies in Finland International studies have evaluated Finland as a safe, easy and corruption-free operating environment: Starting a business and registration A company based in Finland must be entered into the trade register, regardless of its form or size. The information will be passed on to the tax officials. This registration will show whether the company will employ people or be liable to pay value added tax (VAT). The company must pay VAT if it sells goods or services in Finland and has an annual turnover of over EUR 8,500. Starting a business and business processes Contact your local business service centre. Contact information by economic region on pages 56–57. Business ID Upon registration, the company receives a Business ID, which it must use in all of its operations, including the payment of wages, tax and other payments and on invoices. In addition, since July 1, 2014, companies must report all construction services they purchase to the tax administration. Foreign companies in Finland and employer obligations www.vero.fi/en-US/Companies_and_organisations/ Foreign_business_in_Finland Business regulation Businesses are regulated in Finland, depending on the type of operation, whether the company employs people, whether the operation is subject to licence and how the operation affects the environment. Before starting a business, it is important to check whether the operation requires a specific permit or notification. Additional information on trades subject to licence www.uusyrityskeskus.fi/sites/uusyrityskeskus.fi/files/ Perustamisopas_englanti_2013_web.pdf Obligations regarding company employees An employer must retain tax from pay according to the employee’s tax card. Social security contributions (2.4 percent in 2013) and withheld tax must be reported and paid to the tax administration monthly. All employees on Finnish construction sites must wear an ID badge which shows their tax number. The employer must make sure that all employee tax numbers are entered into the tax number register. Employees coming to work in Finland for a short period of time must also have a personal identity code and a tax number. The personal identity code and the tax number can be obtained from the local tax office. Tax administration contact information www.vero.fi/en-US/Tax_Administration/ Contact_information “As a telling measure of its macroeconomic stability, Finland enjoys the highest possible status with the global credit rating agencies Fitch Ratings, Moody’s and Standard & Poor’s. According to the latest report from Fitch, Finland’s AAA status “is underpinned by sound public finances, a solid external position, high income per capita, demonstrable political and social stability and an impeccable debt service record.” Invest in Finland 2013 Finland wishes to increase entrepreneurial activity. The aim is to make it as simple as possible to start a business in Finland and operate here. There are several advisory organizations for companies, and authorities are flexible in the different phases of business establishment and development.
Hanhikivi Guide 2015
To see the actual publication please follow the link above