Finland to defer VAT on imports to VAT returns

21 December 2017

From 1 January 2018, Finland will change the rules on accounting for VAT when importing goods into the country by allowing VAT registered businesses to defer the import VAT to their VAT reporting.

This will in effect remove the requirement to pay import VAT on goods at the time they are imported, which could result in savings on shipping costs and bank charges. It should also improve cash flow for businesses importing into the country, as they will no longer need to wait for the VAT to be refunded from the Finnish tax authorities.

LATEST NEWS

Brexit: actions to help you prepare

The transition period after Brexit comes to an end this year and even if a trade deal is agreed, there will be a host of changes to the current VAT regime that...

SEE MORE
LATEST NEWS

Ecuador to apply VAT on digital services from...

From 16 September 2020, Ecuador will impose VAT at 12% on the sale of e-services to local consumers by non-resident businesses.  At present, non-resident...

SEE MORE
LATEST NEWS

Costa Rica to introduce VAT on electronic services...

From 1 October 2020, Costa Rica will introduce VAT at 13% on the provision of electronic services by non-resident companies. At present, foreign businesses...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.