FinlandAccounting and Audit
RATES
Corporations are subject to the national income tax at a rate of 28%. Corporations are not subject to municipal income tax or church tax. See Appendix 7, page 83, for a sample corporate income tax calculation.
TERRITORIALITY
Companies resident in Finland are liable for tax on their worldwide income, including business profits, certain dividends, interest, rents and royalties. A company is considered to be resident in Finland if it is registered in Finland or is otherwise established there according to Finnish law. Non-resident companies are subject to the national income tax at a rate of 28% on their Finnish-source income only.
TAXABLE INCOME
Taxable income is determined based on financial income adjusted for non-taxable and non-deductible items. In practice, there is a close connection between the determination of net income for tax and for financial statement purposes. The relationship between taxable income and financial income is defined in the Business Income
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