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Borenius analyses the impact of the ruling.
Our Finish firm, Borenius, recently represented a Finnish financing provider in an advance ruling where the court considered whether different fees for both recourse and non-recourse factoring arrangements can be treated as interest income under the Finnish interest deduction limitation rule outlined in the Finnish Business Income Tax Act.
Under the advance ruling recently issued by the Finnish Central Tax Board (23/2022), a wide range of factoring fees charged by the factoring provider for both non-recourse and recourse factoring should be considered as interest when applying the domestic interest deduction limitation rules.
Read the full article here.
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