Trust Bloomberg BNA's Premier International Tax offering for the news and guidance to navigate the complex tax treaty networks and business regulations.
Aug. 16 — The Finnish Tax Administration (Vero Skatt) is advising multinationals of the option for quick advanced discussions to establish transfer pricing positions.
In a notice published Aug. 15, Vero Skatt said the administration is offering “the possibility to examine the tax position flexibly in advance” so that companies can avoid “unexpected tax consequences.”
The administration said further that court decisions concerning tax disputes have also previously upheld decisions from the tax administration.
Noting that transfer pricing issues are usually “always complex and far-reaching in nature” with clearance post their arrangement also “often laborious and slow” the tax administration said that companies have the option to request early discussions on their transfer pricing issues, or obtain preliminary ruling.
Vero Skatt said it completed 56 transfer pricing tax audits since 2012, each of which lasted an average of two years. Cases that go beyond the average are usually referred to court, the notice said.
While some matters are difficult due to their complexity and the necessary checks needed to verify arrangements, some are slowed due to the time taken to obtain further information from the companies involved.
Companies that aren't satisfied with the tax administration's assessment can appeal before the Tax Administration Board of Adjustment, or later to the Administrative Court, and finally the Supreme Administrative Court.
Between 2010-16 companies have successfully challenged Vero Skatt transfer pricing assessments. These have resulted in 21 transfer pricing court settlements, the government said. Of these, 11 fully maintained Vero Skatt's decision while seven upheld the government in part. Decisions of the tax administration were reversed in three cases, the government said.
To contact the reporter on this story: Penny Sukhraj in London at email@example.com
To contact the editor responsible for this story: Rita McWilliams at firstname.lastname@example.org
Copyright © 2016 The Bureau of National Affairs, Inc. All Rights Reserved.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)