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Generic Tax Name Temporary bank tax
Tax name in the national language Väliaikainen pankkivero/Tillfällig bankskatt
Tax name in English Temporary bank tax
Member State FI-Finland
Tax in force since 2013/01/01
If abolished, date on which the tax ceases to apply 2015/01/01
Business version date 2015/01/01
Version date 2015/02/17
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax
Other

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco
Other

Social security contribution Employers
Employees
Other
 
Legal base

Temporary Bank Tax act of 28 december 2012 (986/2012). 

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments

The purpose of the bank tax is to collect funds in advance in case of possible new financial market problems. The aim is to limit taypayers’ liabilities in any future bank crises.

The level of the bank tax in any tax year will be based on the amount of risk-weighted assets at the end of the preceding year according to a bank’s capital adequacy calculation.

 
Geographical Scope
 
Taxpayers

Finnish deposit banks.

 
Tax object and basis of assessment

A percentage of the amount of risk-weighted assets according to the banks capital adequacy calculation.

 
Deductions, Allowances, Credits, Exemptions

In accordance with the act on Taxation of Business Income (360/1968), the bank tax is not a deductible item in business taxation.

 
Rate(s) Structure

The tax is 0.125 per cent of the amount of risk-weighted assets according to a bank’s capital adequacy calculation.

The bank tax will be collected in tax years 2013–2015. The tax will not, however, be in force simultaneously with regulation under a European Parliament and Council Directive relating to crisis management that may possibly come into effect.

 
Tax due date

The bank tax is due on the 30th of April.

 
Tax collector

Finnish Tax Administration.

 
Special features
 
Economic function







Comments
 
Environmental taxes



Comments
 
Tax revenue
ESA95 code -

Comments

The estimated annual revenue from the bank tax is EUR 133 million.