Saturday. 24.08.2019
El tiempo

Vero will refund 806 million euros to tax payers on 6 August

Tax officials also expect to collect 89.5 million euros in back taxes next month.
Photo: Peter Stanic.
Photo: Peter Stanic.
Vero will refund 806 million euros to tax payers on 6 August

Tuesday, August 6. That is now the most anticipated day for tens of thousands of Finnish taxpayers, to whom the tax authority of Finland (Vero) will return a total of 806 million euros in tax refunds on that date. One month later, on September 4, other 1.300 million euros will be refunded by Vero.

In previous years, such payments were made in December, but recent changes in the tax calendar have advanced refunds to August and September. Therefore, and also because it is always a joy to receive money in the own bank accounts, it is not surprising that the Finnish broadcasting company (Yle) jokes with the headline 'Christmas in August'.

The Finnish Tax Authoriy reminds in its website that tax refunds for Finnish residents corresponding to the previous year (2018) will be paid to most of its customers on August 6 and September 4. And encourages all taxpayers to check in the electronic service (MyTax) their due dates and that the account number they provided is correct.

 "We cannot say yet what the total tax refund will be because we have not completed processing all tax returns. Most likely it will not be less than last year", said Vero senior officer Tarja Tapio to Yle.

Others will receive a tax bill

But, as always happens, the joy varies depending on the neighborhood. Thus, while many people rejoice and make spending plans for when the money arrives, there are other taxpayers who will receive an additional tax bill. Tax officials expect to collect 89.5 million euros in back taxes in August, and another 143 million euros in arrears in September.

The last day for taxpayers to provide the tax administration with a bank account number to receive the August refund was last Monday 29 July. Now, if they want to receive the payment in their bank accounts in September, they have until next Monday 5 August to provide a bank account number on paper or until the end of August to do it through the electronic MyTax service.

If you want to access the electronic service MyTax, you can do it HERE

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