On 28 February 2013, a decree (number 169/2013) (the decree) on the application of bank tax issued by the Tax Administration was published in the Official Gazette.

Finland enacted a bank tax with effect from 1 January 2013.

Details of the decree, which applies from 1 March 2013, are summarized as follows:

• A qualifying bank must, on its own initiative, pay the bank tax and file a specific tax return regarding the bank tax.
• The information given must include the amount of risk assets (i.e., assets regarding the bank’s capital adequacy and solvency as defined by the Financial Supervisory Authority (Finanssivalvonta)) calculated on the last day of the previous calendar year. The risk assets are used as the tax base for the bank tax.
• The tax is due by the latest on 30 April of the relevant calendar year.

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