Tax rates

Base rate

Ministry on Finance has confirmed 2,0% for the base rate for the period 1.1.-30.6.2012. Earlier the base rate has been 2,0% in period 1.7.2011-31.12.2011 and 1,5 % in period 1.1.2011-30.6.2011.

The interest of the size of a base rate is used in the taxation in the following situations:

1. The interest of the size of a base rate must be collected

- from shareholder loan which has not been read according to the 53a § of the Income Tax Act as the income from capital of the natural person a shareholder.

- from employee loan (the Income Tax Act 67 §). As a taxable earned income a interest benefit is considered in so far as the annual interest that has been charged for the loan is lower than a base rate on the basis of the employment from the received loan.

2. That part of the interests which correspond to the rest of the negative own capital which has been created due to the private takings that have been raised from a private business, profession or source of livelihood combination told with the percentage of interest the size of which is a base rate added with one percentage point (a law from the taxing of the business income 18 § the 2 paragraph) is not considered caused by the business activity.

Delay interests

The size of the delay interest is 8,5% in 2012. Due to delays in self-initiated tax payments (e.g. VAT and employer's payments) the calculated additional tax is also 8,5% in 2012.

The delay consequences must be paid to a self-initiated tax to be performed after the adjusted date of payment. The additional tax also is charged in connection with the correction of the taxation which is based on the neglect of the additional taxation and of the informing duty. The delay interest and additional tax are always at least three Euros. They are not deductible in the taxation. The 'viivekorkolaskuri' in tax.fi pages helps in the calculation of the amount of the delay interest and of the additional tax. (Note that the calculator is in Finnish.)