1. Country-Specific Features
  2. Finland Help Topics
  3. Finland-specific SuiteApps
  4. Finland Tax Reports
  5. Generating Finland VAT Return

Generating Finland VAT Return

Important:

This content is about Finland tax reports for accounts with SuiteTax. For content relevant for accounts without SuiteTax, see Finland Help Topics.

To generate the Finland VAT Return report, your role must be assigned Country Tax Reports permission. For more information, see Roles and Permissions in Tax Reporting Framework.

To generate Finland VAT Return:

  1. Go to Reports > Tax > Country Tax Reports.

  2. In the Subsidiary field, select a Finnish subsidiary from the list.

  3. In the Nexus field, select Finland.

  4. In the Report Name field, select Finland VAT Return.

  5. In the Start Period field, select a starting period for the report.

  6. In the End Period field, select end period for the report.

  7. Click Generate. You can see the status of the process in the Report Execution Log subtab.

    When NetSuite completes the report, you receive an email notification.

  8. After the report is generated, click View to view the report. For more information about the what the report contains, see Report Content.

If you are entitled to make use of VAT relief, you can calculate it into the report by using the data from the report generated without VAT relief and the VAT relief calculator provided by Vero Skatt.

To generate Finland VAT Return with VAT Relief

  1. Generate the report for the relevant reporting period without VAT relief. See the procedure above for steps to generate the report.

  2. Use the values in the VAT relief calculator provided by Vero Skatt to calculate the amount of VAT relief for the reporting period. Make a note of the resulting VAT relief value. For more information about report content, see Viewing Finland VAT Return.

  3. Repeat the steps 1-6 from the above procedure while entering the same values in every field.

  4. Click the Finland VAT Return Setup button.

  5. Note that the Nexus and Subsidiary fields are automatically filled based on the preceding selection.

  6. Enter the amount of VAT relief calculated in step 2 in the Amount of VAT Relief field. This amount will be deducted from the total payable VAT amount and will be visible in the generated report and all its export variants.

    The users are responsible for the accuracy of the Amount of VAT Relief value.

    Amount of VAT Relief

    Report Calculation

    Positive Value

    Will be deducted from total tax payable

    Negative Value

    Will be added to the total tax payable

  7. Click Save and return to the Finland VAT Return generation page.

    Important:

    You must save the configuration for it to activate the configured values even if some of the values are populated automatically.

  8. Click Generate. You can see the status of the process in the Report Execution Log subtab.

    When NetSuite completes the report, you receive an email notification.

  9. After the report is generated, click View to view the report. For more information about the what the report contains, see Report Content.

General Notices