Buyer of parking space of storage room – pay the transfer tax and file your return

You must pay transfer tax when you buy shares in a housing or real estate company that entitle you to use a parking space, storage room, business premises or other space. You must calculate the amount of transfer tax yourself and pay it.

1

Calculate the tax

Transfer tax is 2% of the sales price (and any other compensation) and of the appropriate amount of possible housing company debt.

The debt-free price consists of the sales price and any company loan.

In other words, you pay tax on the debt-free price even if you paid off your part of the company loan at the time of the sale.

Example: Sanna buys a parking space for EUR 10,000. The company loan related to the shares is EUR 2,000. That is, the debt-free price on the ‘For sale’ advertisement is EUR 12,000. Transfer tax is calculated on the basis of EUR 12,000 and is 2% x EUR 12,000 = EUR 240. It makes no difference whether Sanna pays off her part of the company loan when buying the flat, or gradually as part of her maintenance charge.

2

Pay the tax

Pay the transfer tax within 2 months from the date when you signed the deed of sale or other agreement. For example, if you buy a parking space through a real estate agent, pay the tax when you make the agreement.

If you bought a new piece of property, pay the tax within 2 months from the date when ownership was transferred to you. Do this even if you have used a real estate agent.

See instructions for payment

3

File the return

File the transfer tax return within 2 months from the date when you signed the deed of sale or other agreement (sales without real estate agent).

If you buy a parking space or other space through a real estate agent

  • the agent will give you a copy of the transfer tax notification
  • the agent will submit the transfer tax return to the Finnish Tax Administration.

If you bought a new piece of property, make a notification within 2 months from the date when the property was transferred to you. Do this even if you have used a real estate agent.

File the return online (in Finnish or Swedish)

File the return on paper

See instructions for completing the return

4

Give the return to the property manager

To have your name entered in the list of shareholders, show the manager one of the following:

  • printout of your electronic return, complete with the acknowledgement of receipt by the Tax Administration
  • the processed (stamped) paper return
  • your copy of the return that you received from the real estate agent.

Ask the property manager about any other documentation needed for having your name entered in the list of shareholders.

Tax-exemption for first-time homebuyers does not apply to parking spaces

First-time homebuyer's tax exemption only applies to a permanent residence. When you buy your first home, you may also buy a parking space or storage room, for example. However, you will not be entitled to first-time homebuyer’s tax exemption if the shares for the parking space and storage room are sold separately (different share series).

Frequently asked questions

Transfer tax must be paid after purchase of shares in a housing company in 2 months after signing the deed of purchase. If a realtor assisted you when you bought the apartment, transfer tax must be paid immediately when the deed is signed. However, the usual due dates described above may change in housing companies that have a special clause on share redemption in their articles of association.

If the clause entitles an outside third party to “redeem” the shares (i.e. buy them to himself within a certain deadline), this third party must pay the transfer tax and file a tax return on it in two months after exercise. In this case, you as the original buyer do not have to pay the tax. However, if you had already paid it, you can ask for it to be refunded back to you. Fill out an application form.

When a realtor sold the apartment

  • No third party comes forward to redeem the shares:

    The buyer must pay the transfer tax immediately after the deadline set out by the clause. In this case, the realtor is accountable for making sure that you – as the buyer of the apartment – will pay the transfer tax. The realtor submits the transfer tax return to the Tax Administration. When you pay the tax without delay after the deadline date, the Tax Administration will not impose a punitive tax increase on you.

  • Someone comes forward to exercise his or her right of redemption:

    The redeemer must pay the transfer tax and file a tax return on it in two months after redemption. In this case, the realtor is not treated as having been an intermediary in the sale, so the realtor is not accountable for ensuring that the transfer tax is paid.