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(Dec 23, 2013) The Finnish government presented draft legislation to Finland's parliament, the Eduskunta, on December 5, 2013, concerning the establishment of a public register on tax debts of enterprises. (Laura Pakarinen, Finland: Government Proposes Public Tax Debt Register, TAX NEWS SERVICE (Dec. 6, 2013), International Bureau of Fiscal Documentation online subscription database.)
Under law proposal HE 204/2013, an enterprise would have 14 days to settle any outstanding tax debt before an entry concerning it is made in the register. Settled debts would be indicated in the system almost immediately; unsettled ones would be included in the register at the end of each month. (Id.)
The register would be maintained by the Tax Administration and contain information not only on unpaid taxes but on whether an enterprise had failed to report, as required, VAT or employer costs. (Id.) The information, which, with the exception of the exact amount of the tax debt, is to be made public, would be available free of charge on the joint Business Information System (Yritys- ja yhteisötietojärjestelmä, or YTJ) of the Tax Administration and the National Board of Patents and Registration. (Id.; Welcome to the Home Page of the Finnish Business Information System (last visited Dec. 6, 2013).)
According to the proposal, anyone would be entitled to obtain information on a company's registered debt, provided that the enterprise has at least €5,000 (about US$6,800) in tax debt that is not part of a payment plan arranged with the tax authorities. (Pakarinen, supra.)
|Author:||Wendy Zeldin More by this author|
|Topic:||Corporations More on this topic|
|Taxation More on this topic|
|Jurisdiction:||Finland More about this jurisdiction|
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Last updated: 12/23/2013