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. Read more about the completion of corporations’ tax assessment.

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.

Instructions:

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. The bank account number cannot be submitted by telephone or email. Read more about how to change a bank account number.

Corporate entities, benefits under joint administration and taxpayers registered for VAT cannot submit the bank account number on a paper form (7209e) unless there is a special reason. For example, paper filing is allowed if electronic filing is impossible due to technical difficulties.

See the guidance: 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 refunds to cover unpaid taxes.
  • The enforcement authorities have used your tax refund to cover your debts.
  • The refund is less than €10.
  • 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.

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 account number on time or at all, or if my bank account has been closed?

If the Tax Administration’s database does not contain records of a bank account number belonging to the individual taxpayer who gets a refund, a money order will be made out in Nordea Bank and sent to the taxpayer.  However, if the amount is less than €15 it is paid as a money order only on the taxpayer’s request.

Nordea will send you a letter with the money order, using your address in the Tax Administration’s records. You cannot receive the money order unless the address is in Finland.

After you have received the letter, you can cash the refund at a branch office of Nordea that offers cash withdrawal and deposit services. You must do so in 28 days. For more instructions, see the letter from Nordea. We recommend that you bring the letter with you when you visit the Nordea office to cash the refund.

If you have not cashed the money order in 28 days, Nordea sends your refund back to the Tax Administration.  You will then receive a letter asking you to inform the Tax Administration of your bank account number. When you have submitted your account number in MyTax, you will receive the refund to your bank account in a week.

How to submit a bank account number in MyTax

Frequently asked questions:

Notify the Tax Administration of the the bank account number where you want the refund to be paid. You can submit the bank account number in MyTax if you have a Suomi.fi authorisation that allows you to submit it on the company’s behalf. Read more about Suomi.fi authorisations.