The Finnish accounting obligation extends to some foreign companies
On 18 November 2021, the Finnish Government gave a proposal for legislation to the Parliament on changing the Accounting Act to set an obligation for some foreign entities to keep accounting records in certain situations in Finland. The purpose of the amendment is to enable the authorities to obtain more financial information on the foreign companies operating in Finland.
Payroll automation increases accuracy and efficiency
When was the last time you looked at your payroll processes and their automation from a new perspective?
Verifying input data and transferring it between various processes and information systems is time consuming. Reducing the manual processing of data results not only in a more efficient process and cost savings, but also in better quality and fewer human errors.
760 executives responded to the Azets SME Barometer
The SME Barometer, conducted by Azets, the leading provider of accounting, payroll, HR and advisory services and technology solutions, was published on 9 August 2021. The survey interviewed 760 executives in the Nordic countries and the UK from companies with a turnover of up to EUR 60 million and / or a maximum of 250 employees.
Azets Finland sustainability report
Our sustainability report is built using our own reporting process and refers to the GRI -standard. GRI -standard (Global Reporting Initiative) is a well regarded and widely applied sustainability reporting standard. Our sustainability report focuses on impacts from four sustainability dimensions and lists our efforts to improve and manage sustainability in Finland.
The Problem of Permanent Establishment
Whenever a company operates overseas, there are a lot to things to consider. Among all other compliance matters, taxation is one issue that directly affects the feasibility of expanding business operations. Local tax authorities are usually keen to contact the company and investigate what possible tax liabilities the company has. Finland is no exception to this rule.
Do you have plans for doing business in Finland?
Expanding into a foreign country for business can be tricky. Reporting obligations, registrations and other compliance requirements can cause confusion. It’s often helpful to acquire a local specialist to help meet all the compliance needs and to explain basics of Finnish business requirements.
Accounting work is changing
Automation, artificial intelligence and their impact on accounting have been a hot topic for a long time. Bleakest estimates suggest that jobs in accounting will disappear when machines replace humans. Jobs will not disappear, but they will change – for the better.
Risk management in financial management
In a rapidly changing world, risk prevention and the anticipation of change play even a greater role, and financial management and payroll administration are no exception to this. Risk management has traditionally been seen as a technical problem that can be solved with different systems and technical measures.
What should be considered in workforce optimisation?
Every leader is faced with the same challenge: how to simultaneously guarantee the profitability of the company’s business and employee satisfaction. How to improve efficiency without compromising well-being?
Competitive sustainability: why now is the time to become sustainable?
Sustainability, sustainable development, corporate responsibility. These words have become increasingly common amongst businesses to display actions for commitment on becoming more sustainable. However, are the words simply buzzwords reflecting the trends or do the words actually pose some truth in them?
Frequently asked questions on Brexit: what happens after 1.1.2021?
The European Union and the United Kingdom have agreed on the rules after Brexit and transition period as a historical deal between the parties was announced. Despite the agreement containing some 2000 pages of details, many things will change after the United Kingdom is no longer a part of the EU.