Tax in Finland
Borenius handles a wide range of tax matters including tax aspects of high-value M&A transactions, indirect tax issues and tax advisory work; the team also has a particularly strong offering in contentious work and represents clients in significant tax and transfer pricing disputes. The team has recently advised on the tax elements of several major real estate transactions and assists with the tax planning and structuring elements of cross-border investments. The practice is led by Janne Juusela, and also fields Einari Karhu and Heikki Wahlroos.
Nokian Tyres Plc
Morgan Stanley Real Estate Investing
Intera Partners Buyout Funds
Aberdeen Standard Investments
- Represented Paroc in a landmark transfer pricing dispute.
- Advised the Finnish Venture Capital Association on a change in tax legislation.
- Advised Morgan Stanley Real Estate Investing on the tax planning and structuring elements of its €516m acquisition of the Itis shopping centre.
The team at Hannes Snellman, which is led by Heikki Vesikansa, works across the full range of tax matters including M&A and restructuring issues, tax litigation and regulatory work; the group also expanded its coverage with new indirect tax expertise brought by new arrival Piia Ahonen, who joined from EY Law in early 2019. Clients include YIT, Capman and J.P Morgan; Vesikana also acted as counsel to Outotec on its merger with Metso Minerals through a partial demerger of Metso including obtaining an advance tax ruling on the tax neutral treatment of the partial demerger.
J.P. Morgan Asset Management
- Acted for Areim Fund III on an acquisition of a portfolio of eight office properties.
- Advised Outotec on the combination of Outotec and Metso Minerals through a partial demerger of Metso, obtaining an advance tax ruling on the tax neutral treatment of the partial demerger.
- Acted for Caverion on the sale of its Ylivieska workshop of the Industrial Solutions division to Mimir Invest.
Roschier's tax team works closely with the firm's transactional and financing practices to advise on the complex tax elements of major acquisitions, restructurings, financing agreements and public tender offers. The team also acts in tax disputes and audits relating to corporate tax, transfer pricing, VAT, customs and excise issues. The practice is jointly led by Mika Ohtonen, who specialises in the tax elements of M&A and financing transactions, and Ossi Haapaniemi, who focuses on tax advisory work and tax disputes.
Mika Ohtonen; Ossi Haapaniemi
‘Always high-quality work.’
‘High-quality team who also understand financial issues.‘
Nets Holding A/S
Trevian Asset Management
IK Investment Partners
Assa Abloy AB
- Handled tax work for Tieto on its merger with Evry including complex cross-border tax issues.
- Tax advice to an investor consortium led by ANTA Sports Products relating to its public offer for Amer Sports.
- Advised on the tax aspects of the demerger of Telia Finland and subsequent intra-group restructuring including issues relating to the tax neutrality of the demerger.
Castrén & Snellman works across a broad range of tax matters including M&A and restructuring-related work, tax disputes and cross-border tax issues. Clients include major regional banks, financial services providers and businesses in the manufacturing, energy and healthcare industries. Sari Laaksonen leads the practice, which fields newly-promoted partner Mikko Alakare, who specialises in venture capital and private equity-related tax work. In a recent highlight, the team advised Nordea Bank on its re-domiciliation from Sweden to Finland including the cross-border tax implications of the move.
‘Good structuring skills and pragmatic approach.‘
‘Not afraid to give concrete advice.‘
‘Mikko Alakare provides pragmatic advice that lets you concentrate on the deal you are making without having to second guess the tax perspective.‘
Danske Bank A/S
Nordea Bank Abp
T2H Yhtiöt Oy
OP Real Estate Asset Management
- Advised Danske Bank on the clarification of the VAT treatment of Mandatum Life’s insurance products, which are issued through the client.
- Advised Nordea Bank on the tax aspects of its re-domiciliation from Sweden to Finland.
- Advising Valbruna Nordic on transfer pricing matters.
Dittmar & Indrenius provides a 'high level of expertise' across tax issues including handling the planning and structuring elements of M&A transactions, tax advisory work and tax disputes with particular expertise in transfer pricing disputes. The practice is led by Kai Holkeri, who is praised by clients for his 'technical expertise' and 'robust experience' across the firm's tax work.
‘Dittmar’s practice is unique- expertise is provided across the spectrum from planning through to controversy.‘
‘Kai Holkeri combines technical expertise and robust experience with unfailing sagacity. He is as good it gets.‘
‘High level of expertise.‘
‘Kai Holkeri has the ability to think outside the box, and is easy to work with.’
AMP Capital Investors
Autoklinikka Holding Oy
AXA Real Estate
Uretek Woldwide Oy
SL Capital Partners
Wipunen Asia Capital
Elite Asset Management Plc
- Advised Telenor on the tax and structuring elements of its €1.5bn acquisition of a majority stake in DNA.
- Advising Ikea on the Finnish tax aspects of its investment in four wind farms.
- Advised Providence Equity Partners on the Finnish tax elements of its acquisition of OpusCapita Solutions and its subsidiaries from Posti Group.
Niklas Thibblin and Jouni Weckström jointly head up the 'practical and to-the-point' team at Waselius & Wist, which acts on transaction-related tax and structuring matters alongside contentious issues. The practice's advisory work spans advice on the tax aspects of corporate reorganisations, acquisitions, financings and restructurings, where the group acts for major international financiers including JP Morgan and Santander. On the contentious side, the group handles complex disputes at a Finnish and EU level including transfer pricing and VAT litigation.
Niklas Thibblin; Jouni Weckström
‘Very practical and to the point.‘
‘Niklas Thibblin, very nice person to work with and always straight to the point and provides user friendly advice.‘
‘The team forms a very coherent whole with a long term prospective of maximizing customer benefit.’
‘Niklas Thibblin demonstrates excellent analytical thinking.‘
Santander Consumer Finance
The Royal Bank of Scotland
HiQ International AB
- Successfully represented public broadcaster YLE in its Panama Papers tax case.
- Advised Santander Consumer Finance on the tax structuring issues related to its securitisation of auto loan hire purchase contracts.
- Successfully represented a major non-Finnish wind power producer in a VAT dispute before the Helsinki Administrative Court.
Bird & Bird provides a full range of tax advice to domestic and international companies, individuals, families and non-profit organisations, with expertise spanning corporate taxation, VAT, customs and personal taxation advice as well as specialist areas including inheritance and insurance premiums tax. The team, led by specialist tax lawyer Sami Tuominen, has also been instructed by the Finnish and Swedish governments for tax opinions.
‘B&B delivers solutions to tax issues. Spending your own time to quarrel with tax authorities in complex questions is pointless and usually does not solve problem. Quick contact with the tax authorities with the help of B&B has always worked and saved time. In this field of complicated matters, short to the point advice is sometimes the fastest way to solve matters – and the B&B team is frank with their expertise, and case by case chooses the most efficient way to advance their customers needs.‘
‘Sami Tuominen has a humble customer oriented attitude with strong substance knowledge of tax matters. Even more, he has insight into how government organisations works and, due to the enlightened personal and substance capabilities, he is a brilliant problem solver.‘
The Ministry of Transport and Communications
Neon Underwriting Limited
- Advised Huzl on international VAT and corporate tax issues.
- Advised Fingrid on tax issues related to cross-border employment work.
- Advising HYY Group on the tax aspects of its acquisition of the historical Seurahuone building from Sponda.
Indirect tax expert Juha Sääskilahti heads up KPMG Finland's tax practice, which provides corporate tax advice on compliance, cross-border and indirect tax matters; the group also handles tax litigation and regularly acts in disputes against the tax authorities. The practice is also able to leverage the firm's wider global network to act on cross-border mandates.
Krogerus has a strong record advising buyers, portfolio holders and investors on the tax elements of real estate transactions, share purchases and divestments. The team counts major domestic and international investment funds, banks and private equity firms as clients, and recently advised Savills Investment Management on the due diligence and structuring elements of a sale and lease-back acquisition. The practice is led by experienced 'tax expert' Antti Lehtimaja, who is particularly experienced in advising on inbound investment into Finland.
‘Solution-oriented, providing clear recommendations instead of the series of disclaimers that one usually receives from tax advisers.‘
One Equity Partners
European Energy Exchange
- Advising Savills Investment Management on the due diligence and structuring elements of a sale and lease-back acquisition of a logistics property from the global transport and logistics company DSV.
- Provided transfer tax advice to European Energy Exchange on its acquisition of shares in Grexel Systems.
- Advising Kauppahuone Laakkonen on the tax aspects of its divestment of Audi, Seat and Volkswagen businesses to Kesko.