Year-End Tax Deductions: What Finnish Oy Owners Should Review

As the year draws to a close, your company’s profit becomes clearer. You may also remember the computer planned for next year, business trips you have not claimed and receipts still waiting to reach the accounts. Start reviewing deductions while there is time to make decisions based on current figures and what the business actually needs.

In 2026, an Oy pays 20% corporate income tax. A fully deductible €1,000 expense generally saves €200 when the company has taxable income: the remaining €800 is still a cost. Vero: corporate income tax.

Check your financial year and expense timing

Your financial year may end on a date other than 31 December. Check the closing date before making decisions. Vero: the company’s tax year.

The payment date does not decide everything. Business expenses generally follow accrual accounting. Paying a deposit in December for next year’s services does not automatically create a current-year expense. Equally, a service already received may belong to the closing year even if the invoice is paid later. Tell your bookkeeper what each invoice covers and when the service was delivered. Vero: timing principles.

Collect receipts and plan equipment purchases

Collect missing software, accounting, marketing, insurance and professional-service receipts, including company costs paid personally. Unsold goods generally remain in inventory instead of becoming an immediate expense. Vero: business expenses and inventory.

If equipment is needed, check its deduction treatment before ordering. A useful life of at most three years can allow immediate deduction. The low-value asset limit is €1,200, with €3,600 deductible annually under that rule. Larger, longer-lasting equipment normally qualifies for depreciation of up to 25% of residual value annually. Depreciation requires the equipment to enter business use. The temporary 50% rate ended in 2025. Vero: purchases and depreciation.

Review staff benefits and gift restrictions

Review staff benefits too. A working owner can qualify even as the company’s only worker. Employer-arranged healthcare and reasonable staff recreation may be relevant. If the owner is the Oy’s only worker, the company cannot give them a tax-free milestone gift they select themselves. Vero’s explicit restriction concerns milestone gifts; Christmas gifts follow separate rules. Vero: staff benefits and gifts to owners.

For 2026, the combined tax-free sports and culture benefit is €540 per person per calendar year. Check how much has already been provided and make sure the arrangement meets the exemption conditions before adding further benefits. Vero: the 2026 change.

Complete outstanding travel claims

A calendar review can uncover missing travel claims. In 2026, the basic tax-free allowance for qualifying business travel in your own car is €0.55 per kilometre. Working shareholders can qualify without salary. Record the purpose, dates, route and kilometres, and complete Incomes Register reporting. Ordinary commuting generally does not qualify for these reimbursements. Vero: mileage and daily allowances.

Assess salary and YEL contributions

Salary for actual work and applicable employer costs generally reduce company profit, while creating personal taxable income. Vero: staff expenses.

Salary decisions need a calculation for both the company and its owner. Our salary and dividend guide explains the wider comparison.

Check YEL contributions at the same time. Mandatory premiums paid by the company can be deducted as company expenses. The same payments cannot also be deducted personally. Elo: deducting YEL contributions.

Review doubtful customer receivables

Some deductions require no new spending. A customer receivable may qualify for a deductible write-down when payment is reasonably no longer expected and impairment is evident. Being overdue alone is insufficient. Keep the debt-specific explanation, collection records and accounting treatment. Vero: impaired receivables.

Check additional R&D deductions

Companies conducting R&D should check additional deductions. The general deduction is 50% of eligible salary and purchased-service costs, with a deduction of €5,000–€500,000. A further deduction of 45% of the increase in eligible costs, capped at €500,000, may apply. Routine maintenance or development does not automatically qualify. Organise project descriptions, time records, invoices and funding details. Vero: combined R&D deduction.

Your year-end checklist

• Confirm your company’s financial year-end.
• Send missing receipts and invoices to your bookkeeper.
• Identify company expenses you paid personally.
• Agree expense timing and equipment deduction treatment with your bookkeeper.
• Check staff benefit conditions and the one-person Oy’s gift restriction.
• Complete travel claims and the required Incomes Register reports.
• Compare the company and personal tax effects of your salary decision.
• Make sure YEL contributions are deducted only once.
• Review doubtful customer receivables and gather any R&D documentation.
• Update the profit forecast and reserve cash for the following year.

Set aside time with your bookkeeper for a profit forecast before the final purchases and payroll runs. Agree which expenses belong to the closing year, what evidence is missing and how much cash the company needs for the next year. Our Oy monthly bookkeeping guide helps you gather the starting information, and tulos.ai’s business services explain the options for arranging your accounting.

This article covers the 2026 rules. Sources checked on 18 October 2026.