Profit from a pop-up restaurant is taxable income
Do you operate a temporary pop-up restaurant during Restaurant Day or other such event? Even if you are not operating professionally, the income you receive is taxable earned income. However, you can deduct the expenses for the operation of the restaurant from the income – such as the foodstuffs you have bought for the operation.
Keep records of your income and expenses, and report your profits under Other earned income on your pre-completed tax return.
Operating a pop-up restaurant may be a professional business activity
If you start operating on a more regular basis and your turnover increases, your pop-up restaurant may be regarded as a professional business activity. In that case, you must report your income by filing a business tax return. Read more about registering a business and managing its taxes.
Monitor your turnover and remember VAT liability
The VAT liability threshold in Finland is €20,000 in a calendar year. Monitor your restaurant’s turnover actively and register for VAT as of the date when the turnover exceeds €20,000. You will be liable for VAT as of that date.