Reporting will be simplified gradually

The concentrated data transfer system that is being prepared is a national solution where companies’ financial data is transmitted between different parties in accordance with shared standards and in fixed format.

The data would first be used by the Tax Administration and Statistics Finland. The target schedule for the rollout is 2030, after which the number of users would be gradually increased.

The work for advancing digital financial administration started in the Real-Time Economy project, and it now continues in collaboration with different authorities, stakeholders and private-sector operators. The digital ecosystem for business enterprises is coordinated by the Finnish Patent and Registration Office.

Tax Administration is committed to advancing digitalisation for companies

We are involved in the development of the basic infrastructure required by digitalisation, such as interfaces and standards for shared data. We will also use the data we receive from the concentrated system.

Our objective is that future tax reporting would be based on automatically transferred data generated in the course of business operations. This would lighten the companies’ administrative burden as regards reporting to authorities and enable further improvement of authorities’ processes.

We will use the financial data received from the concentrated system to develop tax reporting such that services provided by commercial operators, public services and reporting to authorities will form a cost-effective, easy-to-use entity. Our aim is that small businesses could meet the requirements of digital economy with small financial and administrative costs.

Together with other authorities and the private sector, we will continue developing the system for the good of Finnish society.