Government measures in key jurisdictions 4th edition - Flipbook - Page 47
Finland
Contractual
Issues
•
The Finnish government has not introduced new legislation due to the COVID-19 pandemic
that would specifically reinforce contracts between commercial entities and the normal
contractual rules apply.
What measures
have been taken
to reinforce
contracts?
Property
•
No particular changes have been made to the laws around property or leasing. However,
below we have listed some elements worth considering.
•
Some tenants, especially within restaurant and hospitality industries, have requested a
temporary adjustment to the rent payable under their leases, including rent holidays or
deferment. Some of such requests have also been approved by the landlords.
•
Under the constructions agreements, force majeure –notifications have been issued by
the contractors. New construction agreements typically include specific provisions
regarding possible delays caused by COVID-19.
Litigation
•
In general, courts are operating normally in Finland. However, some court hearings may be
postponed due to the corona crisis.
Are the courts
operating?
•
With the consent of both parties, hearings may also be held via video conference.
Have any changes
been made to
the laws around
property, rent and
enforcement?
Tax
Has any new
legislation been
introduced in light of
Covid-19?
During the Spring of 2020, the Finnish Government introduced several measures within the tax area,
especially in the field of VAT, the purpose of which was to help the companies to retain their liquidity.
The following measures have already ended at the latest on 31 August 2020 and thus, can no longer be
applied for:
•
•
The Tax Administration refunds VAT already paid by a company between January and March 2020
upon the company’s request. These refunds are treated as loans as the companies must repay the
amount of the VAT added with interest.
The late-payment interest and penalty interest on the taxes in the scope of a payment arrangement
or extended payment terms was reduced from 7% to 2,5%. The terms of the payment arrangement
are also eased.
With reference to the following measure, the Government has proposed that the term of validity would
be extended until 31 October 2020 but the legislative amendment has not yet been approved:
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Government measures in key jurisdictions