Registering in the prepayment register
The prepayment register tells your customers that you pay your own tax prepayments. Without registration, a business customer has to withhold tax from your payment for work, which makes doing business more difficult. This guide covers registration, the conditions and the practical effects.
You will need
- A business ID (Y-tunnus) or a start-up notification in progress
- Suomi.fi identification or online banking credentials
- An estimate of next year's profit
- Access to MyTax (OmaVero)
Steps
Understand what the register does
When you are in the prepayment register, the payer does not withhold tax from your payment for work; instead you pay your taxes yourself as prepaid tax. Registration does not affect VAT, which has its own register.
Register when starting your business
Check the conditions
Estimate your profit for prepaid tax
Add the information to your invoices
Check your partners' details
Keep an eye on your prepaid tax
The full guide with every step is for members. Try 7 days for €0.99.
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