Sixteen Finns stashed tens of millions of euros in the tax haven of Liechtenstein, indicate tax documents made public under an order by the Supreme Administrative Court of Finland (KHO).
Helsingin Sanomat on Thursday reported that the tax evaders include wealthy private citizens, high-level executives from multinational companies and ex-business owners who have sold their business for a profit.
The Finnish Tax Administration has submitted a summary of the case to the daily newspaper, indicating that it has been able to trace 50–60 million euros in funds stashed in the tax haven and imposed a punitive supertax of 838,817 euros on the tax evaders.
Helsingin Sanomat highlighted that the punishment is lenient in light of the fact that had the case gone to court at least some of the tax evaders could have been sentenced to prison for aggravated tax fraud and ordered to hand over criminal profits. Also the names of the individuals would have been made public if the case went to court, it added.
The individuals had anything between one and 10 million euros stashed in Liechtenstein.
The Tax Administration has also collected 2.5 million euros in outstanding corporate tax, 3.1 million euros in capital income tax, 320,000 euros in wealth tax and 547,000 euros in gift and inheritance tax – amounting to a total of 6.5 million euros – from the individuals. The Finns were also ordered to pay 1.7 million euros in non-punitive supertax and 229,000 euros in late-payment interest.
The Finnish Tax Administration was reprimanded for its unusually lenient penalties and prolonged investigation already in 2014 by the Deputy Parliamentary Ombudsman, Maija Sakslin.
Aleksi Teivainen – HT
Photo: Markku Ulander – Lehtikuva