Refunds - individuals

When are tax refunds paid out?

The Tax Administration pays the refunds for 2016 on 5 December 2017 to the bank accounts that taxpayers have notified and the payments arrive to the accounts on the same day.

Check your bank information

We recommend that you check the bank account information on your Pre-Completed Tax Return or Tax Decision to make sure it's right. Please contact the Tax Administration if the bank account number is incorrect, if it has changed, or if you wish to inform us of a new bank account number. 

The easiest way to inform us is to e-file the bank details. You cannot submit a bank account number by telephone.

•    On-line (www.vero.fi/mytax) is available up to 24 November 2017.
•    Individual's bank account notice (Form 7208)  must be submitted on paper by 31 October 2017.

To see how much you are refunded, look up the amount on your latest Tax Decision.

The tax assessment for 2016 will be completed officially 31 October 2017.  That is also the date when we confirm any amounts to be refunded.  The amount is printed on your pre-completed tax return or on a Tax Decision that you may have received later. You cannot look it up on Tax.fi. 

Why did I not get a refund to my bank account?

If you let the tax office know your current bank details too late or if we paid the refund to a bank account that you had closed, the Tax Administration receives it back from the bank. We send you a letter asking you to let us know your bank acount number. After you have given us your bank details On-line (www.vero.fi/mytax), the refund is paid to you in a week.

 
If you haven't informed us of a bank account number, we pay you the refund through a paper-printed payment order i.e. as a "cheque" through the OP Bank. We start paying them 13 December 2017. Note: You must now pay a service charge for cashing the payment order. The OP Bank network debits an amount according to the bank's price list of cashier services.


We will send you a letter informing you of the payment order using your address in our records. You cannot receive it unless the address is in Finland.  You can cash the refund at a branch of OP Financial Group (a bank with cashier services) in Finland, within 28 days of the date printed on it. For more instructions, refer to the contents of the letter or payment order. We recommend bringing along the papers to the bank office. 


If you haven't cashed the refund within 28 days, the bank sends it back to the Tax Administration.   We send you a letter asking you to give your new bank details On-line (www.vero.fi/mytax). After that, the refund is paid to you.

A refund paid to your bank account will reach you approximately one week sooner than a refund via a payment order.

If you are behind in your tax payments, the refund will be used as payment for other unpaid taxes. We can also use your refund for covering any third-party tax debts you may be liable for. Example: you are a partner of a general partnership that has a tax debt. If you receive a refund, it may be applied to the unpaid tax debts of the partnership. We always notify the taxpayer who is the original recipient of the refund. Similarly, we also notify the party who receives the refund.

In some circumstances, the Enforcement Agency may impose a distraint on a refund. If the Agency decides to do so, they notify the taxpayer afterwards.

It may be that the Enforcement decides to apply your refund to other debt you might have, not your tax debt. If this is the case, they will inform you of it by letter.

The minimum amount for a refund to be paid is 5 euros. Lower amounts are not refunded. The refund limit for self-assessed taxes is 20 euros.

If you give an account number to the Tax Administration that belongs to a loan company, it will stay on our files until you send us a new bank account notice informing us of your own account number
The Tax Administration's data system allows only one bank account number per taxpayer.

If you let the tax office know your current bank details too late or if we paid the refund to a bank account that you had closed, the Tax Administration receives it back from the bank. We send you a letter asking you to let us know your bank acount number. After you have given us your bank details On-line (www.vero.fi/mytax), the refund is paid to you in a week.

If you haven't informed us of a bank account number, we pay you the refund through a paper-printed payment order i.e. as a "cheque" through the OP Bank. We start paying them 13 December 2017. Note: You must now pay a service charge for cashing the payment order. The OP Bank network debits an amount according to the bank's price list of cashier services.

We will send you a letter informing you of the payment order using your address in our records. You cannot receive it unless the address is in Finland.  You can cash the refund at a branch of OP Financial Group (a bank with cashier services) in Finland, within 28 days of the date printed on it. For more instructions, refer to the contents of the letter or payment order. We recommend bringing along the papers to the bank office.

If you haven't cashed the refund within 28 days, the bank sends it back to the Tax Administration.   We send you a letter asking you to give your new bank details On-line (www.vero.fi/mytax). After that, the refund is paid to you.

  • Guidance issued by OP Bank on cashing a payment order (www.op.fi)   
  • List of branch offices (www.op.fi)

A refund paid to your bank account will reach you approximately one week sooner than a refund via a payment order.

If you are behind in your tax payments, the refund will be used as payment for other unpaid taxes. We can also use your refund for covering any third-party tax debts you may be liable for. Example: you are a partner of a general partnership that has a tax debt. If you receive a refund, it may be applied to the unpaid tax debts of the partnership. We always notify the taxpayer who is the original recipient of the refund. Similarly, we also notify the party who receives the refund.

In some circumstances, the Enforcement Agency may impose a distraint on a refund. If the Agency decides to do so, they notify the taxpayer afterwards.

It may be that the Enforcement decides to apply your refund to other debt you might have, not your tax debt. If this is the case, they will inform you of it by letter.

The minimum amount for a refund to be paid is 5 euros. Lower amounts are not refunded. The refund limit for self-assessed taxes is 20 euros.

If you give an account number to the Tax Administration that belongs to a loan company, it will stay on our files until you send us a new bank account notice informing us of your own account number. The Tax Administration's data system allows only one bank account number per taxpayer.

Interest on refunds

Refunds for individual taxpayers are credited with interest.  Similarly, if an individual is due a refund because he or she has lodged an appeal or received an adjustment, the amount will earn interest as provided in the relevant legislation.  The interest period usually starts on the date of payment of the tax, and ends on the date of refund. The rate of interest on various sub-types of taxes is the same rate.  It is the official Reference Rate of the Bank of Finland reduced by 2 percentage points.  However, the rate cannot be less than 0.5%. It is reviewed every year. For 2017, refunds are credited with 0.5% of interest.

Self-assessed taxes are credited with interest.

The interest period begins from February the year after the tax year; and ends on the last day of the month before the Tax Administration starts paying the refunds. For 2016 refunds, the interest period is February 1 to November 30, 2017. 

The interest you receive is not treated as being part of your taxable income. 

Information on other types of refunds 

The Tax Administration also pays out refunds to those whose tax assessment has changed because of an appeal process or readjustment.  Changes may have been made on the taxpayer's request, or because of an internal readjustment made by the tax office. We inform the taxpayer by letter, indicating the amount to be refunded. These refunds are usually paid within a week of the date of the letter. We use the bank account number on file. 
The legal basis of these refunds is an official decision of the Tax Administration or other public authorities. Many sub-types of taxes may be involved.

Examples:

•    Decisions made in response to a taxpayer's appeal
•    Refunds used as a payment for other unpaid taxes that have to be paid back to the taxpayer
•    Decisions on granting relief 
•    Amounts paid in excess and corrected afterwards
•    Amounts based on an incorrect invoice

Page last updated 5/19/2017

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