Finland VAT Return Tax Codes
This content is about Finland tax reports for accounts with SuiteTax. For content relevant for accounts without SuiteTax, see Finland Help Topics.
Tax codes determine how much tax is paid on each transaction line item. In accounts with SuiteTax, Finland tax codes are automatically mapped to NetSuite tax codes.
Renaming or otherwise editing a tax code will render the tax code unsupported. Any transaction with an unsupported tax code will be excluded from Finland VAT Return report.
To view tax code properties:
-
Go to Setup>Tax>Tax Codes
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Click + in the Filters tab.
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In the Country list, select Finland.
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Click View next to the tax code you want to inspect.
Finland Tax Codes (accounts with SuiteTax)
The following tax codes are provisioned and supported for use with Finland VAT Return:
Effective from 1 September 2024, the standard tax rate in Finland increased from 24% to 25.5%.
The Finland VAT Return calculates VAT with the 24% standard tax rate for the data up until 31 August 2024. As of 1 September 2024 the 25.5% standard tax rate is applied.
This change is reflected in the updated label of the standard tax return in the first row of the VAT Return report.
|
SuiteTax Tax Code |
Rate |
Description |
Available On Sales/Purchases |
Reverse Charge Link |
|---|---|---|---|---|
|
FI_SR |
24% tax until 31 Aug 2024, 25.5% tax as of 1 Sept 2024 |
Standard rate |
Both |
|
|
FI_RR |
14% |
Reduced rate |
Both |
|
|
FI_SRR |
10% |
Super reduced rate |
Both |
|
|
FI_ZR |
0% |
Zero rate |
Both |
|
|
FI_SR_RC |
24% tax until 31 Aug 2024, 25.5% tax as of 1 Sept 2024 |
Reverse charge – Standard rate |
Purchase |
FI_SR |
|
FI_RR_RC |
14% |
Reverse charge – Reduced rate |
Purchase |
FI_RR |
|
FI_SRR_RC |
10% |
Reverse charge – Super reduced rate |
Purchase |
FI_SRR |
|
FI_RCS |
0% |
Reverse charge for sales |
Sales |
|
|
FI_NL |
0% |
Not liable to tax |
Both |
|