The Legal 500

Legal Developments in Finland

• Recent Developments of Finnish Merger Control

  Finland's New Merger Control Rules
  - Merilampi

• Construction 2013

  Are all members of consortia jointly liable for the entire project or may they allocate liability and responsibility among them?
  - Mäkitalo Rantanen & Co Ltd

• Implications of competition law on information exchange - New book published in Finland

  Lotta Uusitalo, Anne Petäjäniemi-Björklund and Leea Salminen, Attorneys at Law of Procopé & Hornborg, have written a book on the implications of competition law on information exchange.
  - Procopé & Hornborg

• New Waste Act to enter into force on May 1, 2012 in Finland

  The EC waste directive (2008/98/EC) will be implemented in Finland by the new Finnish Waste Act, which will enter into force on May 1, 2012.
  - Procopé & Hornborg

• Construction 2012

  Introduction Robert S Peckar Peckar & Abramson, PC 3
  - Mäkitalo Rantanen & Co Ltd

• Court ruling on the Finnish CFC legislation

  The Finnish CFC legislation implies that a Finnish company may be subject to income tax for its share of the profit of a CFC regardless of whether these profits are distributed by the CFC to its shareholders or not. A CFC is defined as a foreign corporation owned and controlled by a Finnish tax resident that pays income tax in its domicile at a rate less than 60% of the Finnish corporate income tax rate.
  - Attorneys at law Borenius Ltd

• Cross-border merger case to ECJ

  The Finnish Supreme Administrative Court decided on 7 March 2011 (KHO 2011:21) to request for a preliminary ruling from the Court of Justice of the European Union (ECJ) concerning the question whether a Finnish parent company may deduct the final tax losses of its Swedish subsidiary after a cross-border merger.
  - Attorneys at law Borenius Ltd

• The European Commission proposes a system of common consolidated corporate tax base

  The European Commission presented on 16 March 2011 a proposal that calls for a common system for calculating the tax base of business operating in the EU. At the moment, a company active within the whole EU can be forced to comply with up to 27 different national tax systems. The new Common Consolidated Corporate Tax Base (CCCTB) seeks to reduce the administrative burden, compliance costs and legal uncertainties by creating a "one-stop-shop" system where the profits and losses across the EU could be consolidated.
  - Attorneys at law Borenius Ltd

• Owner's obligations at acceptance inspection clarified by the Helsinki Appellate Court

  By its decision 18 February 2011 (S09/3055) the Helsinki Appellate Court confirmed that an owner is entitled to rely on the quality assurance of a well-known construction company at an acceptance inspection. The court held that the owner is entitled to demand rectification of construction defects and to claim damages for deficiencies discovered during the guarantee period.
  - Attorneys at law Borenius Ltd

• Tax-neutral exchange of shares case to ECJ

  The Finnish Supreme Administrative Court (SAC) decided on 31 January 2011 (KHO:2011:10) to ask for a preliminary ruling from the Court of Justice of the European Union (ECJ) concerning the question whether a tax-neutral share exchange can be completed between a company residing in an EU country and a company residing in the European Economic Area (EEA) (such as Norway, Iceland and Liechtenstein).
  - Attorneys at law Borenius Ltd