Tax refunds – corporate taxpayers
This guidance is for corporate taxpayers. Information about tax refunds payable to individual taxpayers and self-employed individuals is available here.
When are tax refunds paid out?
Corporations and joint administrations, i.e. limited liability companies, cooperatives, associations and foundations, have their own tax refund dates.
Tax refunds for corporations are paid out on the fifth day of the second month following the completion of the corporation’s tax assessment. If the fifth day is not a business day, the refund is paid on the next business day.
How much will I be refunded?
When the tax assessment has been completed, you can check your tax refund in MyTax or the tax decision sent to you by post.
Please note that if the Tax Administration has used your tax refund to cover your overdue taxes, this is not reflected in the refund amount you see on the front page of MyTax. To check how the Tax Administration has used your tax refund, go to the “Payments and refunds made” tab.
- How to check your tax refund in MyTax
- Visit MyTax to see how your tax refund has covered your unpaid taxes
Which bank account is the refund paid into?
Your tax refund is paid into the bank account you have given to the Tax Administration. Check that the bank account number you have given is correct. You can check the account number in MyTax, the pre-completed tax return or the tax decision. Submit a new or changed bank account number, if necessary. Please note that you cannot submit an account number by phone.
- Instructions: How to submit a bank account number in MyTax
Why didn’t I receive the refund in my bank account?
Examples of situations where you do not receive the refund in your bank account:
- The bank account number you have given us is incorrect; for example, the bank account has been closed.
- You have not given us a bank account number at all.
- We have used the refund for your overdue taxes. Read more about using a refund for unpaid taxes.
- The enforcement authorities have used the tax refund to cover your debts that are subject to enforcement proceedings.
- The refund is less than €5 (or the refund on self-assessed taxes is less than €20).
- You have not submitted the required tax returns (such as the VAT return) or they have been incomplete.
We have used the tax refund for your overdue taxes
If your tax refund has been used for your self-assessed taxes, such as value-added tax or employer’s contributions, your own payment intended to be used for them remains unused. The unused payment will either be kept waiting for upcoming taxes or be refunded into the company’s bank account. This depends on the refund option and refund limit you have selected in MyTax. You can ask the payment to be refunded in MyTax: select “Requesting refunds, self-assessed taxes” under Activities and enter the required details. Before a potential refund, the Tax Administration will use the amount to cover your other overdue taxes, or the amount may be distrained. Read more about refunds of self-assessed taxes.
If the tax refund has been used for prepayments, the payment you have made will be used for your next upcoming prepayments or other income taxes in the order of due dates. Log in to MyTax to check the amount and due date of your next prepayment.
Follow the schedule of your payment plan, i.e. do not skip any instalments on account of tax refunds. The use of the tax refunds will be taken into account in the course of the payment plan: the instalments and schedule will not change, but the plan will be terminated ahead of schedule.
How do I get my refund if I have not given my bank account number on time or at all, or if my account has been closed?
If you have not given us your bank account number or if your bank account has been closed, we will pay the refund as a money order via the OP bank. OP banks charge for the cashing of money orders according to their price list. Because the cashing is subject to a charge, we do not pay refunds below €15 through a money order unless specifically requested.
OP will send a notice of the money order to the address you have given to the Tax Administration. The address must be in Finland, otherwise we cannot send you a money order. When you have been notified of the money order, you can cash your refund in any bank of the OP Bank Group that offers cashier services. You must cash the money order within 28 days. For more instructions, see the notice you receive from the bank. We recommend that you take the notice with you when you go to the bank to get your tax refund.
If you do not cash the money order within 28 days, the bank will send it back to the Tax Administration. You will then receive a letter asking you to inform the Tax Administration of your bank account number. After you have given us your bank account number in MyTax, we will pay the refund into your bank account in about a week.