The terms for the Tax Administration’s payment arrangements will be eased for the time being because of the coronavirus. The Finnish parliament has decided that late-payment interest is temporarily reduced for taxpayers whose taxes are covered by a payment arrangement. In addition, the Tax Administration will make other terms of the arrangements more flexible.
Accordingly, the rate of interest is reduced from 7% to 2.5%. Starting 1 May, the reduced rate is in effect on all unpaid taxes covered by payment arrangements.
This decision and other eased terms aim for supporting small businesses that are having financial difficulties. However, not only businesses but also individual taxpayers are entitled to ask for payment arrangements to be made.
The changes in the conditions for payment arrangements are in force as of 21 June 2021.
Taxpayers can log in to MyTax to submit an application for an eased-terms arrangement up to 31 August 2021. After the taxpayer’s application is submitted, the authorities stop the recovery of the taxpayer’s unpaid taxes until the Tax Administration has processed the application.
Source vero.fi
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