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” under Payment status.

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: Go to the Activities tab and then click the Requesting refunds, self-assessed taxes link under Requests for refund. 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.

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 does not have the refund recipient’s bank account number, the refund will be paid by money order, i.e. paid through Nordea Bank.

After receiving a money order, you can act in two different ways:

A. You can still submit your account number in MyTax. The tax refund is already on its way to the bank where you can cash the money order. If you do not cash the money order in 28 days, the bank returns the uncashed amount to the Tax Administration. The time limit is counted from the date of the money order. After the time limit has expired, the tax refund will be paid to your bank account within about a week.
How to submit a bank account number in MyTax

B. You can cash a money order at Nordea in various ways: For more instructions, visit Nordea’s website or see the money order letter.

Note:

  • Refunds below €15 will not be paid by money order. Please contact the Tax Administration if you wish to cash the refund at the bank.
  • Nordea will send you a letter about the money order to the address saved in the Tax Administration’s records. You cannot receive a money order unless the address is in Finland.
  • If the amount of the refund is higher than €1,700, the Tax Administration will pay it into the recipient’s bank account, if possible. In these cases, the refund can be paid by money order only on your request.

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.

If you have an ongoing payment arrangement and you receive a tax refund, the refund will be used towards the unpaid taxes in the arrangement. Read more about how tax refunds are used on taxes in payment arrangements.