Every Finnish limited company (osakeyhtiö, Oy) must file an annual report (tilinpäätös) and a corporate income tax return (veroilmoitus) within four months of the end of its financial year. For a company with a standard calendar year, both are due by 30 April. This is not a guideline or a best practice. It is a legal requirement that applies to every Finnish Oy, including dormant companies with no activity, foreign-owned companies whose directors live outside Finland, and newly formed companies in their first year of operation. Missing the deadline triggers penalties and enforcement action from both the Finnish Tax Administration (Verohallinto) and the Finnish Patent and Registration Office (PRH). This guide explains exactly what you need to file, when it is due, what it must contain, and what happens if you need help getting it done.

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The Two Filings

The tilinpäätös and the veroilmoitus: what they are and why they are different

One of the most common points of confusion for founders with Finnish companies, particularly those who have previously operated companies in other countries, is the relationship between the annual report and the corporate tax return. In Finland, these are two separate legal documents, filed with two separate authorities, for two different purposes. They are prepared from the same underlying financial data, which means your accounts must be fully complete before either can be submitted, but they are not the same thing and cannot be filed as one submission.

The tilinpäätös: annual financial statements filed with PRH

The tilinpäätös is the annual financial statements of the company. It is a public document, meaning that once filed with PRH, anyone can access it, including banks assessing your company's creditworthiness and potential business partners conducting due diligence. The tilinpäätös must be prepared in Finnish and in euros. It must follow Finnish accounting standards (FAS), specifically the Finnish Accounting Act (kirjanpitolaki). For most Finnish Oys, it consists of a balance sheet (tase), an income statement (tuloslaskelma), notes to the accounts (liitetiedot), and, where required, a board of directors' report (toimintakertomus) and an auditor's report (tilintarkastuskertomus). The tilinpäätös must be signed by all board members and the managing director before it can be filed. For companies with foreign boards, this signature collection step is frequently the one that causes delays.

The veroilmoitus: corporate income tax return filed with Verohallinto

The veroilmoitus is the corporate income tax return, filed with the Finnish Tax Administration through the OmaVero (MyTax) portal using Form 6B. It reports the company's taxable income, deductions, and the calculation of corporate income tax owed. The financial statements must be attached to the tax return or submitted via OmaVero separately. The veroilmoitus is not a public document. It is submitted to Verohallinto and used for tax assessment purposes. The deadline for the veroilmoitus is the same as the tilinpäätös: four months after the end of the financial year, which means 30 April for calendar-year companies.

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Deadlines

Annual report deadline in Finland: when exactly must you file

The deadline for both the tilinpäätös and the veroilmoitus is four months after the end of the company's financial year. The financial year does not have to be the calendar year, though for most Finnish companies it is.

There is an important distinction between the four-month deadline and the eight-month PRH threshold. The tilinpäätös must be prepared, approved by the board, approved at the annual general meeting (AGM), and submitted to PRH within four months of the year end. The PRH does not start charging a late filing fee until eight months after the year end. This does not mean you have eight months to prepare. The accounts must be complete, signed, and AGM-approved by the four-month mark. The extra four months are a grace period before financial penalties begin, not an extension of the preparation deadline.

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What Must Be Filed

What the Finnish annual report must contain

The content of the tilinpäätös varies by company size. Finnish accounting law divides companies into four categories: micro, small, medium, and large. Most Finnish Oys formed by foreign founders or operating as service businesses fall into the micro or small category, which allows for simplified reporting. Here is what each size category is required to include.

Micro-sized companies

A company qualifies as micro-sized if it does not exceed two of the following three thresholds in the most recently completed financial year: balance sheet total of €350,000, net turnover of €700,000, and average number of employees of 10. Micro-sized companies may use a simplified balance sheet and income statement format and are exempt from the requirement to prepare a board of directors' report. The notes to the accounts are still required but are limited to the items specifically mandated for micro companies under Finnish accounting law.

Small companies

A company qualifies as small if it does not exceed two of: balance sheet total €6 million, net turnover €12 million, average employees 50. Small companies must prepare a full balance sheet and income statement, notes to the accounts, and in most cases a board of directors' report. The board report requirement applies if the company has an employee, or if certain other criteria are met. Small companies are generally exempt from the statutory audit requirement unless the shareholders specifically demand one.

Medium and large companies

Medium and large companies face the most comprehensive requirements, including mandatory statutory audit, a full board of directors' report, and in some cases a cash flow statement. For most international founders operating Finnish Oys, these thresholds are unlikely to apply in early years.

What must always be included regardless of size

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  Balance sheet (tase). A snapshot of the company's assets, liabilities, and equity at the financial year end date. Must be in Finnish and in euros.
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  Income statement (tuloslaskelma). A summary of the company's revenue, costs, and profit or loss for the financial year. Must follow the format prescribed by Finnish accounting standards.
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  Notes to the accounts (liitetiedot). Mandatory disclosures covering items such as accounting policies, related party transactions, shareholder loans, and other information required by Finnish accounting law for the company's size category.
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  Signatures of all board members and managing director. The tilinpäätös must be signed before filing. For companies with foreign boards, electronic signatures using qualified electronic signatures are acceptable. Physical presence in Finland is not required, but signatures must be collected before the deadline.
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  Approval at the annual general meeting (AGM). The tilinpäätös must be presented to and approved at the company's annual general meeting before it is filed with PRH. The AGM can be held remotely and does not require physical attendance in Finland.
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  Financial statement information attached to the veroilmoitus. When filing the corporate tax return with Verohallinto via OmaVero, the financial statement data must be submitted alongside or separately. Vero cross-checks the tax return against PRH filings.

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Corporate Tax Return

The veroilmoitus: completing the Finnish corporate tax return for 2026

The veroilmoitus for a Finnish limited company is filed using Form 6B in OmaVero. For the 2025 tax year (financial year ending 31 December 2025), the deadline for companies without an authorised tax advisor is 30 April 2026. The Form 6B requires the company to report its income, deductions, and the calculation of taxable profit. Here are the key items and changes for the 2025 and 2026 tax years that Finnish Oy owners need to be aware of.

Corporate income tax rate: 20% for 2026, dropping to 18% from January 2027

The Finnish corporate income tax rate is 20% for tax year 2026. The government has confirmed a reduction to 18% effective from financial years beginning on or after 1 January 2027. For companies with a standard calendar year, the 20% rate applies to the 2026 accounts (filed by 30 April 2027), and 18% will apply to the 2027 accounts (filed by 30 April 2028). The 2025 accounts being filed now are taxed at 20%.

R&D additional deduction: still available for 2025, changed from 2026

For the 2025 tax year, the general R&D additional deduction and the cooperation-based R&D deduction remain available. The general deduction provides a 50% additional deduction on qualifying R&D expenses plus a 45% deduction on year-on-year R&D spending increases. Both have a minimum threshold of €5,000 and a cap of €500,000 per year. From tax year 2026, the increased depreciation on machinery and equipment (tax relief depreciation) is no longer available. Companies relying on this deduction for the 2026 tax year should note this change when planning their tax position.

Loss carryforward: extended to 25 years from 2026

From the 2026 tax year, confirmed tax losses can be carried forward for 25 years, extended from 10 years. This is a significant structural improvement for growth-stage companies and any business that has experienced investment-led losses. Losses from 2025 and earlier remain subject to the previous 10-year limit. Losses arising from 2026 onwards benefit from the 25-year window.

What the 6B form requires

The Form 6B asks for the company's revenue, operating expenses, financial income and expenses, depreciation, extraordinary items, and any applicable deductions. The form also requires disclosure of shareholder information for shareholders holding 10% or more of the company's shares, details of any shareholder loans, and related party transactions. Vero updated its guidance for the 2025 and 2026 tax years in early 2026, including changes to how share exchange transactions between related parties are reported. If your company has been involved in share restructuring, check the current Vero guidance before filing.

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Penalties

What happens if you miss the deadline

Finland takes annual report and tax return compliance seriously. Both PRH and Verohallinto have independent enforcement mechanisms, and the consequences of missing deadlines escalate quickly.

PRH enforcement for late tilinpäätös

If the tilinpäätös is not filed within eight months of the financial year end, PRH begins charging a late filing fee. The fee is currently €85 per filing period for micro and small companies. PRH sends a formal notice requiring the company to file within a set deadline. If the company still does not file, PRH can escalate to a court order and ultimately to enforced liquidation of the company. Directors of a Finnish Oy are personally responsible for ensuring the tilinpäätös is prepared and filed. Being located outside Finland does not exempt directors from this responsibility.

Verohallinto penalties for late veroilmoitus

A late-filed corporate tax return triggers a late filing penalty from Verohallinto. The penalty varies depending on how late the return is and whether the company has a history of non-compliance. Late payment of the corporation tax itself incurs interest at the rate set by Verohallinto annually. From January 2026, the late payment interest rate for corporate taxes is 7% per year. Repeated failure to file can result in estimated tax assessments by Verohallinto, where the tax authority calculates a presumed liability that may be significantly higher than the company's actual tax position.

Dormant companies are not exempt

A Finnish Oy with no activity during the financial year, no revenue, and no employees still has a legal obligation to file both the tilinpäätös with PRH and the veroilmoitus with Verohallinto. Even bank charges, annual maintenance fees, and small incidental costs constitute accounting activity under Finnish law and must be accounted for. There is no simplified dormant company return in Finland. The full tilinpäätös process applies regardless of activity level.

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Step by Step

How the annual report and tax return process works in practice

Here is the complete sequence of steps required to prepare, approve, and file the tilinpäätös and veroilmoitus for a Finnish Oy. For a company with a 31 December financial year end, all of this must be completed.

1. 1

   Finalise the bookkeeping for the financial year

   All transactions for the financial year must be recorded, bank accounts reconciled, invoices accounted for, and the books closed. If your company's bookkeeping has not been maintained throughout the year, this step takes significantly longer than expected. Starting this process in January or February for a 31 December year end is strongly recommended. 1Office Finland provides monthly bookkeeping services that ensure accounts are ready to close at year end without a backlog.

2. 2

   Prepare the tilinpäätös documents

   The balance sheet, income statement, notes to the accounts, and where applicable the board of directors' report are prepared from the finalised bookkeeping. These documents must comply with Finnish Accounting Standards (FAS) and be written in Finnish. For foreign-owned companies working with 1Office Finland, we prepare all documents in Finnish and provide English translations for your reference.

3. 3

   Audit (if required)

   If your company meets the statutory audit thresholds (exceeding two of: balance sheet total €100,000, net turnover €200,000, average employees 3) or if the company's articles of association require an audit regardless of size, a certified auditor (KHT or HT) must review the tilinpäätös and issue an auditor's report before the documents can be signed. The audit must be completed before the board signing, so engage your auditor well in advance of the April deadline.

4. 4

   Board signatures

   All board members and the managing director must sign the tilinpäätös. Electronic signatures using qualified electronic signatures (such as Finnish Mobiilivarmenne, Suomi.fi, or an internationally recognised qualified e-signature) are accepted. For companies with boards located in multiple countries, this step requires advance planning. 1Office Finland coordinates the signature process and can advise on which electronic signature tools are accepted by PRH.

5. 5

   Annual general meeting (AGM)

   The tilinpäätös must be presented to and approved at the AGM. Under Finnish company law, the AGM must be held within six months of the financial year end. For calendar-year companies, this means by 30 June. In practice, the AGM is typically held before the April filing deadline so the tilinpäätös can be submitted on time. The AGM does not require physical attendance in Finland and can be held remotely or as a written decision if permitted by the articles of association.

6. 6

   File the tilinpäätös with PRH

   The completed, signed, and AGM-approved tilinpäätös is filed electronically with PRH through the PRH e-service. Filing is free if submitted within eight months of the financial year end. After eight months, PRH begins charging a late fee. 1Office Finland files directly with PRH on your behalf as part of the annual report service.

7. 7

   File the veroilmoitus with Verohallinto

   The corporate income tax return (Form 6B) is filed through OmaVero (MyTax) along with the financial statement data. If 1Office Finland holds a veroasiamiehen valtuutus (authorised tax advisor registration) for your company with Vero, the filing deadline may be automatically extended to the end of May. The veroilmoitus must include all required attachments and comply with Vero's current Form 6B guidance for the relevant tax year.

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Foreign Companies in Finland

Annual report obligations for foreign companies operating in Finland

Foreign companies that are registered in Finland, whether as a branch (sivuliike) or with a permanent establishment, have their own annual reporting obligations separate from those of a Finnish Oy. The key distinction is that a foreign company's Finnish branch does not file a tilinpäätös with PRH in the same way a Finnish Oy does. Instead, it files an income tax return (Form 6U for non-resident foreign corporate entities) with Verohallinto, along with an extract of the parent company's financial statements or the branch's own financial statements, depending on the situation.

The Form 6U is used by foreign companies with a permanent establishment in Finland that are subject to limited tax liability in Finland. It reports the income attributable to the Finnish permanent establishment or branch. The filing deadline is four months after the end of the parent company's accounting period, which may differ from the Finnish calendar year depending on where the parent company is domiciled.

Foreign companies that have operated in Finland without registering a branch or subsidiary but have created a permanent establishment through their activities (for example through extended construction projects, long-term service provision, or a dependent agent) are also required to file with Verohallinto. If your company operates in Finland and you are unsure whether a filing obligation exists, this is worth confirming with a Finnish tax advisor before the relevant deadline passes.

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Not Our Accounting Client?

What if your bookkeeping is handled elsewhere or you need a one-off annual report

1Office Finland provides annual report and tax return services to Finnish Oys whose day-to-day accounting is handled by another firm, handled internally, or not yet handled by anyone. You do not need to be an ongoing 1Office accounting client to order an annual report service.

For companies approaching us for the first time, the process works as follows: you provide us with your bookkeeping records or trial balance for the financial year, we prepare the tilinpäätös and veroilmoitus, coordinate the board signature process, file with PRH, and submit the veroilmoitus to Verohallinto. If your books are incomplete or you have not maintained bookkeeping throughout the year, we can also provide a catch-up bookkeeping service before preparing the annual report.

If your deadline has already passed or is very close, contact us immediately. Filing late is significantly better than not filing. Verohallinto and PRH both respond more constructively to late filings submitted voluntarily than to companies that make no attempt to comply. The sooner a late tilinpäätös is filed, the lower the likely penalty and the lower the risk of escalating enforcement action.

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  Annual report preparation and PRH filing. 1Office prepares the tilinpäätös in Finnish, coordinates board signatures, arranges the AGM process, and files with PRH. View the annual reports service.
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  Corporate tax return (veroilmoitus) preparation and filing. 1Office prepares and submits Form 6B via OmaVero, including all required attachments and financial statement data.
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  Ongoing monthly accounting. For companies that want to ensure their books are compliant and ready for year-end each year, 1Office Finland provides monthly bookkeeping, VAT returns, payroll, and all Vero filings. View accounting services.
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  Tax registrations. If your company needs to register for VAT, employer obligations, or other Finnish tax registrations, 1Office Finland handles the full registration process with Verohallinto. View tax registration services.
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  Virtual office and registered address. Every Finnish Oy needs a Finnish business address. 1Office Finland provides a virtual office address in Helsinki for companies that do not have a physical Finnish presence. View virtual office service.

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FAQ

Frequently asked questions about the Finnish annual report and tax return