Trade income and royalties on your tax card
You need a separate tax card for trade income
If you receive trade income instead of or in addition to wages, you will need a separate tax card for it. The tax card for wages cannot be used when trade income is paid to you, because the deductions applicable to wage income are different from those applicable to trade income.
If you request a tax card for trade income, you must estimate your income for the entire year. You can present the same tax card to multiple payors.
How to request a tax card in MyTax for trade income
What is meant by wages and trade income?
Note: If you have an employment relationship to the payor, you will need a tax card for wages. See the instructions on a tax card for wages.
Tax card for copyright royalties
Royalties, i.e. compensation for use of a copyright, can be taxed as earned income or capital income.
- If the compensation for use is taxed as earned income, you must request a separate tax card for royalties.
- If the compensation for use is taxed as capital income, you do not need a tax card. Instead, the payor will withhold 30% tax on the income. Royalties are taxable as capital income if the copyright has been inherited, received through a will, or bought.
Instructions for different situations
- I am a light entrepreneur and work through an invoicing service. Do I need a tax card?
- Foster care providers, support families, support persons – how to manage your taxes (available in Finnish and Swedish, link to Finnish)
Key terms: