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Finnish Budget Increases €10,000, VAT Registration Threshold

Finnish Budget Increases €10,000, VAT Registration Threshold

HELSINKI: Effective from the start of next year, domestic businesses in Finland will be required to register for value-added tax when their turnover exceeds EUR10,000 (USD11,320).

Included in Finland’s 2015 Budget, the increase, from the current level of EUR8,500, brings the threshold closer to those in place in other EU member states, although it remains relatively low. The distance selling threshold – above which non-resident suppliers are required to register – continues to be EUR35,000.