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Economy and Banking Sector of Finland

Double Taxation Agreements

Double Taxation Agreement (DTA) is an agreement between two or more countries for the avoidance of double taxation.

DTAs of Finland: 70 Signed Agreements

Finland signed DTAs which already came info force with the following jurisdictions:

AR Argentina
AM Armenia
AU Australia
AT Austria
AZ Azerbaijan
BB Barbados
BY Belarus
BE Belgium
BA Bosnia and Herzegovina
BR Brazil
BG Bulgaria
CA Canada
CN China
HR Croatia
CY Cyprus
CZ Czech Republic
EG Egypt
EE Estonia
FR France
GE Georgia
DE Germany
GR Greece
HU Hungary
IN India
ID Indonesia
IE Ireland
IL Israel
IT Italy
JP Japan
KZ Kazakhstan
KR Korea, Republic of
KG Kyrgyzstan
LV Latvia
LT Lithuania
LU Luxembourg
MK Macedonia
MY Malaysia
MT Malta
MX Mexico
MD Moldova, Republic of
ME Montenegro
MA Morocco
NL Netherlands
NZ New Zealand
PK Pakistan
PH Philippines
PL Poland
PT Portugal
RO Romania
RU Russian Federation
RS Serbia
SG Singapore
SK Slovakia
SI Slovenia
ZA South Africa
ES Spain
LK Sri Lanka
CH Switzerland
TJ Tajikistan
TZ Tanzania, United Republic of
TH Thailand
TR Turkey
UA Ukraine
AE United Arab Emirates
GB United Kingdom
US United States
UY Uruguay
UZ Uzbekistan
VN Vietnam
ZM Zambia

Information Exchange

There are 3 ways for jusrisdictions to exchange information on tax matters:

  • spontaneously;
  • on request;
  • automatically.

Spontaneous exchange of information is provision of information that is forseeably relevant to another party without a request being previously sent.

Tax Information Exchange Agreements (TIEAs) enable exchange of information on request relating to a specific tax investigation, either criminal or civil.

Automatic information exchange allows jurisdictions to exchange information automatically, without having a specific tax investigation.

Exchange on Request: 48 Signed Agreements

Finland signed TIEAs which already came info force with the following jurisdictions :

AD Andorra
AI Anguilla
AG Antigua and Barbuda
AW Aruba
BS Bahamas
BH Bahrain
BZ Belize
BM Bermuda
VG British Virgin Islands
KY Cayman Islands
CK Cook Islands
CW Curacao
DK Denmark
DM Dominica
FO Faroe Islands
GI Gibraltar
GL Greenland
GD Grenada
GG Guernsey
IS Iceland
IM Isle of Man
JE Jersey
LR Liberia
LI Liechtenstein
MO Macau
MH Marshall Islands
MU Mauritius
MC Monaco
MS Montserrat
NU Niue
NO Norway
PA Panama
KN Saint Kitts and Nevis
LC Saint Lucia
VC Saint Vincent and The Grenadines
WS Samoa
SM San Marino
SC Seychelles
SX Sint Maarten (Dutch part)
SE Sweden
TC Turks and Caicos Islands
VU Vanuatu

There are also several agreements between Finland and other jurisdictions which was signed but haven't yet come into force:

BW Botswana
BN Brunei Darussalam
CR Costa Rica
GT Guatemala
JM Jamaica
QA Qatar

Automatic Exchange: Starts in September 2017

Finland signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.

Automatic Excnange: 57 Bilateral Agreements to Receive Information

Finland has signed bilateral agreements with 57 jurisdictions to automatically receive information:

AD Andorra
AR Argentina
AU Australia
AT Austria
BE Belgium
BQ Bonaire, Saint Eustatius and Saba
BG Bulgaria
CA Canada
CN China
CO Colombia
HR Croatia
CY Cyprus
CZ Czech Republic
DK Denmark
EE Estonia
FO Faroe Islands
FR France
DE Germany
GI Gibraltar
GR Greece
GL Greenland
GG Guernsey
HU Hungary
IS Iceland
IN India
IE Ireland
IM Isle of Man
IT Italy
JP Japan
JE Jersey
KR Korea, Republic of
LV Latvia
LI Liechtenstein
LT Lithuania
LU Luxembourg
MY Malaysia
MT Malta
MU Mauritius
MX Mexico
MC Monaco
NL Netherlands
NZ New Zealand
NO Norway
PL Poland
PT Portugal
RO Romania
SM San Marino
SC Seychelles
SG Singapore
SK Slovakia
SI Slovenia
ZA South Africa
ES Spain
SE Sweden
CH Switzerland
GB United Kingdom
UY Uruguay

Automatic Excnange: 69 Bilateral Agreements to Send Information

Finland has signed bilateral agreements with 69 jurisdictions to automatically send information:

AD Andorra
AI Anguilla
AR Argentina
AU Australia
AT Austria
BE Belgium
BZ Belize
BM Bermuda
BQ Bonaire, Saint Eustatius and Saba
VG British Virgin Islands
BG Bulgaria
CA Canada
KY Cayman Islands
CN China
CO Colombia
CR Costa Rica
HR Croatia
CY Cyprus
CZ Czech Republic
DK Denmark
EE Estonia
FO Faroe Islands
FR France
DE Germany
GI Gibraltar
GR Greece
GL Greenland
GG Guernsey
HU Hungary
IS Iceland
IN India
ID Indonesia
IE Ireland
IM Isle of Man
IT Italy
JP Japan
JE Jersey
KR Korea, Republic of
LV Latvia
LI Liechtenstein
LT Lithuania
LU Luxembourg
MY Malaysia
MT Malta
MU Mauritius
MX Mexico
MC Monaco
MS Montserrat
NL Netherlands
NZ New Zealand
NO Norway
PL Poland
PT Portugal
RO Romania
LC Saint Lucia
VC Saint Vincent and The Grenadines
WS Samoa
SM San Marino
SC Seychelles
SG Singapore
SK Slovakia
SI Slovenia
ZA South Africa
ES Spain
SE Sweden
CH Switzerland
TC Turks and Caicos Islands
GB United Kingdom
UY Uruguay

Further Information

FATCA

Foreign Account Tax Compliance Act (FATCA) which became law in the United States in March 2010, focuses on reporting made by foreign financial institutions about financial accounts held by US taxpayers or foreign entities in which US taxpayers hold a substantial ownership interest. The FATCA-reporting is facilitated by Intergovernmental Agreements (IGAs).

FATCA Status in Finland
IGA in effect since 05 March 2014, Model 1

Finland has FATCA agreement with the U.S. in effect since 05 March 2014 (Intergovernmental Agreement Model 1). Financial institutions operating in Finland are required to identify U.S. taxpayers by January 1, 2017 and to report the information for 2017 and the subsequent years. The agreement is reciprocal: Finnish financial accounts hold in U.S. financial institutions will be reported to Finnish authorities.

Further Information