Annual Obligations of a Finnish Oy in 2026: PRH, Tax, Accounting, Payroll and Financial Statements

1. Think of Oy compliance in three layers

An Oy's obligations cannot be reduced to one annual return. Layer one is daily/monthly bookkeeping and document flow. Layer two is periodic VAT, payroll and Incomes Register reporting. Layer three includes financial statements, corporate-tax return, governance and PRH updates.

The strongest approach is an annual compliance calendar based on the company's actual tax period, financial period, payroll activity and registrations rather than one generic calendar for every company.

2. Monthly bookkeeping and document flow

Every business transaction should have accounting support. Bank/card movements, sales and purchase invoices, cash, travel, vehicle, representation, payroll expenses and shareholder payments should be documented and explainable.

Personal spending from company funds and company expenses paid personally by shareholders must be classified correctly. Unexplained transfers create accounting and tax risk.

3. VAT reporting: obligations can continue even with no activity

A VAT-registered company must file VAT returns according to its tax period. A zero-activity period does not automatically eliminate the filing obligation while registration remains active.

The applicable VAT period can be monthly, quarterly or annual depending on the company's setup. VAT treatment and deductibility must be assessed transaction by transaction.

4. Regular vs casual employer

Vero treats a company as a regular employer when it regularly pays at least two employees; regularly pays one permanent employee plus temporary employees; or pays at least six temporary employees simultaneously. Regular employers must register in the Employer Register.

A company with one regular employee or one to five short-term employees can be a casual employer in some situations. Casual status does not remove Incomes Register wage-reporting duties.

5. Incomes Register: wages and employer's separate report

Wages are generally reported to the Incomes Register with an earnings payment report within five days of payment. Required reporting is made per income earner/payment.

The employer's separate report covers the employer's health-insurance contribution and related data. A regular employer submits it every month, including 'No wages payable' when no wages were paid. The deadline is the fifth calendar day of the following month.

6. Financial statements and PRH's eight-month rule

An Oy must file financial statements with the Trade Register within eight months after the financial period ends. Inactivity does not automatically remove this duty.

PRH applies late-submission fees in 2026. Year-end readiness should include bank reconciliations, receivables/payables, inventory, depreciation, payroll, tax and shareholder balances.

7. Keep PRH and beneficial-owner data current

Board, managing director, address, signing rights and other registered details should be updated when they change. Beneficial-owner information should also be updated when ownership or control changes.

PRH can impose negligence fees in 2026 for incomplete or incorrect register data and missing beneficial-owner information.

8. What changes if the company is inactive?

No activity does not mean no obligations. If the company remains VAT-registered or in the Employer Register, zero/no-wage reporting may still be required. Bookkeeping and financial statements continue.

If inactivity will continue, unnecessary tax/employer registrations can be reviewed, but ending an Oy is a separate legal process; simply not using the company does not automatically dissolve it.

9. Annual compliance checklist

Tracking the following items in one place materially reduces compliance risk.