Ecommerce taxation and VAT
In online store accounting, attention must be paid to Value Added Tax (VAT). In Finland, some products have reduced VAT rates, such as food, books, sports services, and newspapers. Always ensure the correct VAT rate before launching your online store.
In addition, many Finnish ecommerce businesses have been expanding sales abroad. This introduces tax and accounting challenges, as each country has its own VAT rates, which must be accounted for in bookkeeping and sales records. Whether the goods are sold within the EU also affects how they are processed. Our accounting firm provides guidance and information for every situation from an accounting perspective.