If you had losses connected to Pyynikki Craft Brewery Ltd, you may be entitled to deductions

The administrator of Pyynikki Craft Brewery Ltd’s bankruptcy estate has issued a notice, dated 22 December 2022, stating that no distributions will be paid out to the company’s former shareholders. If you owned shares in this company now bankrupt, you can include a deduction claim in your 2022 pre-completed tax return based on losses of capital.

The capital loss is in this case equal to the amounts of money that you paid when you bought the shares. You can add any expenses you paid in connection with the purchase to your deduction claim, i.e. brokerage fees and the like are seen as part of the capital loss. Some shareholders received their shares as an inheritance or gift. If you are among them, your capital loss is equal to the shares’ confirmed tax values in inheritance taxation or gift taxation.

How to claim the deduction when submitting your tax return

Because the bankrupt Pyynikki Craft Brewery Ltd was not stock-exchange listed, fill in the amount of the loss under Capital gains (instead of the Profit from selling securities section).

• If the capital loss is already calculated on your pre-completed return, please check the amounts carefully. Because of the bankruptcy, the pre-completed information shows “€0.00” as the selling price. Check the amounts of purchase prices and expenses related to the purchase shown on your pre-completed return. If necessary, make corrections.
• If the only amount appearing on your tax return is the selling price (€0.00), you must enter the purchase price and expenses into the appropriate fields in MyTax.
• If nothing appears on your tax return regarding your shareholding in Pyynikki Craft Brewery Ltd, you must enter the purchase price, expenses connected to the purchase, and selling price into the appropriate fields in MyTax. Enter the “selling” price of €0.00 and enter 22.12.2022 for the date.

If you cannot log in to MyTax to enter the information, complete and submit Form 9 Capital gain or capital loss.

For more detailed instructions, see: The pre-completed tax return – how to file in MyTax or on paper, look up the sub-heading “Capital gains”.