Value added tax or VAT is a tax that is added to the price of nearly all goods and services. Businesses add VAT to their prices and report this to the tax authorities. As VAT is targeted at consumers, businesses can deduct VAT from their expenses to a certain extent. VAT is a flat tax …
The general VAT rate will increase from the current 24 percent to 25.5 percent, according to the decision of the Finnish government. The change will take effect on September 1, 2024 and it will also impact invoicing for light entrepreneurs. In this article, you will find the key information about the VAT change as well …
The career of a freelancer is nowadays possible across a number of industries. Especially many professionals in creative professions, such as graphic designers, journalists, and photographers, provide their services as freelancers. As more people are looking to become freelancers, there are more questions about a freelancer’s career. Should a freelancer be employed, an entrepreneur or …
A trade name is the second most common company form in Finland, right after a limited company. When it comes to starting and doing business, operating under a trade name is notably lighter compared to other official company forms. Despite its lightness, a trade name is still an official company form that requires understanding accounting …
It is again that time of the year when pre-filled tax returns and reviewing them are just around the corner. As a light entrepreneur, to get all the possible benefits from tax deductions and make it easy for you to check your tax return, you should prepare beforehand and report information through MyTax well in …
If you are a non-Finnish citizen interested in the freedom and flexibility of working as a light entrepreneur in Finland, there are specific steps you need to follow before you can start invoicing. In this blog post, we will guide you through the process and requirements for non-Finnish citizens to become a light entrepreneur with …
Opening a business account is an essential part of starting business operations and taking care of the business’s financial administration. In this article, we will explain how to open a business account, go through its features, and take a look at whether light entrepreneurs need a business account. What is a business account? A business …
Many people dream of running a part-time business and selling their services alongside a full-time job. In this situation, is it better to choose part-time entrepreneurship or to work as a light entrepreneur? We compared these two options and weighed their advantages and disadvantages in selling services part-time. What is a part-time entrepreneur? A part-time …
In this article, we will tell you about the VAT register and when you have to register for VAT. We will also discuss the obligation of a light entrepreneur to join the VAT register. What is the VAT register? The VAT register is maintained by the Tax Administration. The register includes all businesses liable for …
A VAT return is required from VAT-liable entrepreneurs for each accounting period. We will tell you how and when a VAT return must be filed, who it applies to and how it affects light entrepreneurs. What is a VAT return? A VAT return is a declaration to the Tax Administration regarding business operations subject to …
VAT is an indirect consumption tax that is levied on consumers. Businesses selling their products and services must add VAT at the VAT rate used in their industry to their prices and remit the taxes they collect to the tax authorities. Paying VAT has been made easy for light entrepreneurs, as the light entrepreneur service …
Staff service work and light entrepreneurship both make it possible to earn a living, but they differ significantly from the viewpoint of the worker. In this article, we will take a look at the main differences between staff service work and light entrepreneurship. What is staff service work? Staff service work means that an employee …
Light entrepreneurship means that you invoice your customers as a private individual. The invoice for the work done is sent to the customer through an invoicing service, and since the customer pays the invoice directly to the invoicing service, you do not need to worry about accounting responsibilities or other time-consuming bureaucracy. A light entrepreneur …
VAT is an indirect tax that businesses collect from consumers and remit to the tax authorities. Businesses are allowed to deduct VAT on the products they purchase, so the taxation is aimed at consumers. Light entrepreneurs must also add VAT to their prices, but can light entrepreneurs benefit from VAT deductions? In this article, we …
Many light entrepreneurs have to travel long distances using their own car. If you want to receive tax-exempt reimbursements for incurred travel expenses or deduct them in your taxation, you must keep a driving logbook. We will tell you more about the use and role of the driving logbook in taxation. What is a driving …
Income on maternity leave is limited, so earning a bit of extra money may seem attractive. However, working during maternity leave may affect your benefits and allowances. Read more about maternity leave income policies and restrictions in our article. Maternity leave becomes a timely issue for many women at some point in their careers. Although …
As your business grows across national borders and becomes international, the invoicing of foreign customers becomes topical. When invoicing foreign customers, the value added tax used in invoicing must also be borne in mind. In this guide, we will briefly guide you through the basics of foreign VAT. Light entrepreneurs and foreign customers As a …
A business plan is a written plan detailing how your company will implement its business idea in practice. A business plan will help you consider all of the key matters in founding a company, as well as challenge you to think about the profitability of the business and its potential obstacles. What is a business …
Accruing pension is something that you rarely need to think about when you are employed. The TyEL (employer’s pension) insurance ensures that you accrue pension in accordance with your pay. However, the situation is different for light entrepreneurs, as pension does not accrue automatically without action on your part. A pension will ensure your livelihood …
Value added tax is a flat tax added to the price of almost all services and products, which all VAT-liable companies charge their customers and pass to the tax authorities. If a company’s revenue remains small, then the VAT-liable company may benefit from VAT relief. What is VAT relief? VAT relief is a tax relief …
In many fields, the work may require travelling long distances, as the work locations change regularly. Various travel costs may build up to be a significant expense in daily life, which is why tax-exempt reimbursements are important. Tax-exempt reimbursements, such as kilometre allowance and daily allowance, reimburse travel costs for both employees and light entrepreneurs. …
Start-up money is intended for supporting new businesses and is a big question for many people planning to start operations as light entrepreneurs. We will explain what start-up money actually is, how much of it can you get, and if a light entrepreneur is eligible to receive start-up money. What is start-up money? Start-up money …
Accounting is one of the most daunting tasks for beginning entrepreneurs that requires great care and understanding of how things should be done. As a light entrepreneur, you do not need to worry about getting buried under endless paperwork and sending different kinds of notifications. Light entrepreneurs have different obligations compared to regular entrepreneurs. In …
VAT, or value added tax, is a tax on consumption that is included in nearly all products and services sold to consumers. Although businesses need to add VAT to their prices, they are eligible to deduct it from purchases they make. When it comes to light entrepreneurs, things are a bit different. To make things …
Small entrepreneurship is the most common form of entrepreneurship in Finland. Small businesses are more or less the backbone of Finland’s business sector as they account for 98 percent of the country’s businesses. However, a small entrepreneur has to regularly take on the challenges of bureaucracy and many other obligations. In this article, we’ll explain …
Are you living abroad and have thought about working in Finland as a light entrepreneur? Or maybe you already live in Finland and are interested in becoming or trying light entrepreneurship. Well, this is the blog entry for you as we’ll be highlighting essential factors you’ll need to consider if you’re from within the EU …
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Eezy Kevytyrittäjät Oy
Maistraatinportti 1
00240 Helsinki
Business ID: 2197002-2
©Copyright Eezy Kevytyrittäjät 2024
