Income Register

Cash Money

What is an income register?

Starting from January 2019, the national income register will be compulsory for everyone who pays wages. It applies to companies, organizations, associations, and households.

It is an electronic database that includes comprehensive and up-to-date information about wages, pensions, and benefits at the individual level, which is governed and maintained by the Finnish Tax Administration.

In the future, a single entry of notification can be used in different organizations such as Kela, tax offices, earnings-related pension providers and others.

How it affects entrepreneurs

Entrepreneurs who are self employed are not part of these changes. In general, the deadline for reporting is 5 days after the day when the wages are paid. Household employers and SME companies are recommended to use for paying salaries.

It affects the administrative payroll and report processes of the company as well as the payroll systems of the company. An entrepreneur, who is an owner of a limited liability company, pays his own salary, and it should be reported to the Income Register. The salary of the owner of the limited liability company should be reported to the Income Register.

Mae N.