Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Value added tax

By Maxwood Subscribe to RSS | June 19th 2012 | Views:
loading
 
  



Value added tax is added to prices of most of the products and services which are sold in business purpose. In Finland the tax rate is currently 23 percent for most of the products and services, 13 percent for groceries and such and for most of the cultural services 9 percent.. Value added tax is paid only once from each product or service, and the seller takes care of the billing and paying the tax. But since the tax is paid only once, companies can deduct the value added tax from their costs and purchases in taxation. For self-employed small business owner this means that all receipts related to the profession and working are worth saving and that vigilant and organized monitoring of incomes is needed.

The company doing business and selling products or services is entitled to notify the Tax Administration and join the value added tax register. The company must do monthly value added tax announcements for Tax Administration, and pay monthly value added tax from the sales into the tax account. Every company has its own tax account into which the payments are made. The account is balanced annually according to tax announcement. Making records and keeping all organized with the value added tax can be time consuming task, and bookkeeping can take several hours from the monthly working hours, depending on the size of the business and the amount of the financial transactions. For example electronic accounting (in Finnish=sähköinen kirjanpito) tools are good help for saving this time for the professional work.

Maxwood - About Author:
Do you want to get more information about accounting (in Finnish: sähköinen kirjanpito)?

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/value-added-tax.htm

Related Business Articles Subscribe to RSS

Peru Amazon Tours in Tambo Blanquillo and Regions to Experience Near By
Published by Tracy Narvaez on August 25th 2012 | Business
On the way to the lodge from Cusco there is a cloud forest, various rainforest habitats and a small ...
 
Gardening and Outdoor Living Retailing in Emerging Markets: Market Guide to 2016
Published by Bharatbook on August 25th 2012 | Business
Bharatbook.com introduces a report Gardening and Outdoor Living Retailing in Emerging Markets: Mar...
 
Time to get the latest university news
Published by Gene Crayton on August 25th 2012 | Business
Education is a never-ending process. Each day you get to learn something new which may or may not be...
 
Voice over Agencies- Helping Hand for All Your Voice over Requirements
Published by Julia Roger on August 25th 2012 | Business
It is important that you choose a voice over agency that is reputed and is in the business for a con...
 
Use Outlook for Conference Room Scheduling
Published by Julia Roger on August 25th 2012 | Business
It is best to use different color codes for meetings in different conference rooms that will help in...
 
Use Outlook for Conference Room Scheduling
Published by Julia Roger on August 25th 2012 | Business
It is best to use different color codes for meetings in different conference rooms that will help in...