Government measures in key jurisdictions 5th edition - Flipbook - Page 49
Finland
•
No particular changes have been made to the laws around property or leasing.
However, below we have listed some elements worth considering.
•
Some tenants, especially within restaurant and hospitality industries, have
requested a temporary adjustment to the rent payable under their leases,
including rent holidays or deferment. Some of such requests have also been
approved by the landlords.
•
Construction agreements typically include specific provisions regarding
possible delays caused by Covid-19.
Litigation
•
In general, courts are operating normally in Finland. However, some court hearings
may be postponed due to the corona crisis.
Are the courts
operating?
•
With the consent of both parties, hearings may also be held via video conference.
Property
Have any changes
been made to
the laws around
property, rent and
enforcement?
Tax
Has any new
legislation been
introduced in light
of Covid-19?
During the Spring of 2020, the Finnish Government introduced several measures within
the tax area, especially in the field of VAT, the purpose of which was to help the
companies to retain their liquidity.
The following measures have already ended at the latest on 31 August 2020 and thus, can
no longer be applied for:
•
•
The Tax Administration refunds VAT already paid by a company between January and
March 2020 upon the company’s request. These refunds are treated as loans as the
companies must repay the amount of the VAT added with interest.
The late-payment interest and penalty interest on the taxes in the scope of a payment
arrangement or extended payment terms was reduced from 7% to 2,5%. The terms of
the payment arrangement are also eased.
With reference to the following measure, the Government has decided that the term of
validity will be extended until 30 April 2021:
•
The VAT Act has been temporarily amended to the domestic sales of goods used for
the prevention, testing and treatment of covid-19 infection and these type of
acquisitions from other EU member states. The amendment applies to sales to
producers of public health and medical care and social welfare services, as well as to
organisations approved by Customs. The VAT rate for the sales has been amended to
0%, i.e. sales are considered so-called zero-rated sales. Consequently, VAT included in
the purchases made for these sales is deductible.
Government measures in key jurisdictions
49
