= Doing Business reform making it easier to do business. = Doing Business reform making it more difficult to do business.
Finland simplified reporting and payment for the value added tax and labor tax.
Finland has made it easier to pay taxes with electronic filing and has reduced the burden on business and the cost of employment by cutting labor taxes.
The regulations regarding the credit information of private persons and companies in Finland have now been assembled into one act. The new credit information act, governing the production, storage, disclosure and use of credit data, concerns private persons, companies as well as entrepreneurs and traders. There is a one-year transition period for the implementation of the act.
Finland revised its Restructuring of Enterprises Act, accelerating hearings and making the entire process more flexible. The reform makes it easier for companies to enter a reorganization process.
Starting a Business:
The new Finnish Companies Act reduced the minimum share capital from € 8.000 to €2.500, or from 27% of income per capita to about 8%. The reform also simplified documentation requirements, replacing the deed of incorporation and the minutes of the constitutive meeting by a new, simplified agreement of association.