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Tag Archives: Finnish

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 ... Read More »

Finnish to Support African International Tax Reforms

HELSINKI: The Finnish tax authority signed a co-operation pact with the African Tax Administration Forum (ATAF), to support African tax authorities to implement changes to their international tax and transfer pricing regimes. The co-operation deal, which will extend to the administrations of over 35 African nations, focuses on transfer pricing matters, including issues relating to taxation of permanent establishments and ... Read More »

Finnish Car scrapping scheme boosts car trade from 3000 to 5000

HELSINKI: The first weeks of introduction of car scrapping scheme has been reflected positively in car dealers’ everyday operations, found news agency STT. Owners of old cars will get Euro 1,500 discount upon the purchase of a new car after sending an old, end-of-life vehicle to the scrap. The campaign started at the beginning of July and will continue until ... Read More »

Finnish commerce network Basware inks €2.9m deal in USA

HELSINKI: Basware Commerce Network is the largest open business network in the world, connecting one million companies across 100 countries. Basware Commerce Network is the largest open business network in the world, connecting one million companies across 100 countries. Finnish e-invoicing and purchase-to-pay (P2P) solutions provider Basware has signed an agreement with a major North American health care corporation. The ... Read More »

Finnish economy output declines 0.5% in May 2015

HELSINKI: Seasonally adjusted output of the national economy decreased by 0.5 per cent in May from the month before, according to Statistics Finland. Adjusted for working days, the output fell by 1.2 per cent from May 2014. Working-day adjusted output fell in April by 0.2 per cent (previously -1.2 per cent) from April 2014, the revised data show. The revision ... Read More »

Finnish Valio removes UHT milk from market

HELSINKI: Finnish diary company Valio has decided to remove a batch of UHT semi-skilled milk from market. The product in question is a batch of one litre packed milk whose due date is 21 September. According to Valio, the reason to withdraw the milk product is due to quality defect caused by technical failure of the packaging machine. The error ... Read More »

Finnish Industrial output slides by 5.1% in May 2015

HELSINKI: Working day adjusted change in total industrial output (BCDE) from corresponding month previous year, %, TOL 2008. Source: Volume Index of Industrial Output 2015, May. Statistics Finland. Output of total industries adjusted for working days was 5.1 per cent lower in May 2015 than twelve months earlier, according to Statistics Finland. The industrial output declined by 4.7 per cent ... Read More »

Finnish Tax revenue goes up by 1.5 % in 2014

HELSINKI: The accrual of taxes and compulsory social security contributions grew by 1.5 per cent in 2014, according to Statistics Finland’s data. The total accrual amounted to approximately euro 90 billion. The tax ratio grew from the previous year by 0.2 percentage points to 43.9 per cent. The tax ratio describes the ratio of taxes and compulsory social security contributions ... Read More »

Finnish Solar energy rakes in profit

HELSINKI: Solar energy has become a profitable investment for companies, communities and farms. The change has been fuelled by solar energy subsidies and low interest rates, energy expert Jero Ahola told the news agency STT. Ahola, a professor of energy efficiency at the Lappeenranta University of Technology, said the use of solar energy by housing companies could become more common ... Read More »

Finnish retail sales drop by 3.6 % in May

HELSINKI: The sales in retail trade decreased by 3.6 per cent in May 2015 from the corresponding period in the year before, according to Statistics Finland’s retail trade flash estimate.  Over the same period, the volume of retail trade sales, from which the impact of prices has been eliminated, went down by 2.9 per cent. In daily consumer goods trade, ... Read More »

Finnish revenue grows by €0.2b in Q1 of 2015

HELSINKI: Consolidated total general government revenue grew by euro 0.2 billion in the first quarter of 2015 compared to the corresponding quarter of the previous year. Correspondingly, consolidated expenditure decreased by euro 0.1 billion, according to the Statistics Finland’s data. The deficit of general government, therefore, decreased by euro 0.3 billion. Total revenue decreased by 1.1 per cent from the ... Read More »

Finnish Unemployment rate rises to 11.8% in May 2015

HELSINKI: The unemployment rate in May this year was 11.8 per cent, which was 10.7 per cent in the corresponding month of last year, according to Statistics Finland’s Labour Force Survey. The number of unemployed persons in May was 324,000, which was 28,000 higher than one year ago. There were 27,000 fewer employed than in May of the previous year, ... Read More »

Finnish postal service Posti to close most of its outlets

HELSINKI: Antti Kess and Miisa Nissinen are not particularly concerned about the looming closure of their local postal outlet. Expectations formed in the world of online shopping turned into reality or disappointment at the outlet of Posti in Töölö on Tuesday. “I drop by the post office every once in a while, when I’ve bought stuff online,” software developer Tuomas ... Read More »

Finnish Caverion inks €5.4 m Swedish deal

HELSINKI: Finnish building systems services provider Caverion is to deliver ventilation, air conditioning and electricity solutions, as well as information and communications services to Segerstedthuset, the new office building of Uppsala University in Sweden. A 5.4 million-euro contract was signed between the company and general contractor NCC covering project management and execution. With a total floor area of 22 100 ... Read More »

Finnish Energy consumption decreases 6% in Q1 2015

HELSINKI: The total energy consumption in January to March amounted to 361 petajoule in the first quarter of 2015, which was almost six per cent less than in the corresponding period in 2014, according to Statistics Finland’s preliminary data. Electricity consumption amounted to 23.4 terawatt hours (TWh), which is two per cent lower than one year earlier. In the production ... Read More »

Finnish Caverion inks €5.4 m Swedish deal

HELSINKI: Finnish building systems services provider Caverion is to deliver ventilation, air conditioning and electricity solutions, as well as information and communications services to Segerstedthuset, the new office building of Uppsala University in Sweden. A 5.4 million-euro contract was signed between the company and general contractor NCC covering project management and execution. With a total floor area of 22 100 ... Read More »

Finnish Energy consumption decreases 6% in Q1 2015

HELSINKI: The total energy consumption in January to March amounted to 361 petajoule in the first quarter of 2015, which was almost six per cent less than in the corresponding period in 2014, according to Statistics Finland’s preliminary data. Electricity consumption amounted to 23.4 terawatt hours (TWh), which is two per cent lower than one year earlier. In the production ... Read More »

Finnish postal service Posti to close most of its outlets

HELSINKI:  Antti Kess and Miisa Nissinen are not particularly concerned about the looming closure of their local postal outlet. Antti Kess and Miisa Nissinen are not particularly concerned about the looming closure of their local postal outlet. Expectations formed in the world of online shopping turned into reality or disappointment at the outlet of Posti in Töölö on Tuesday. “I ... Read More »

Finnish Sandvik’s 140 workers not ready to transfer in other Units

HELSINKI: Workers at the engineering company Sandvik unit in Turku, which is up for closure, do not want to transfer to the Tampere unit, reported Finnish language daily Turku Sanomat. About 140 employees of the 340 workers at the unit have been offered transfers to the company’s other units. However, no worker had registered for a transfer, said the newspaper. ... Read More »

Finnish Viking Line threatens to relocate to Sweden

HELSINKI: Passenger cruise liner company Viking Line is considering shifting to Sweden if the government cut support to passenger ships, reported Finnish language daily Helsingin Sanomat. The government is planning to downsize the support to passenger ships by about €20 million. Over half of the reduction targets Viking Line since the company has the most Finnish flagged passenger ships. Viking ... Read More »