What should be taken into account regarding taxation as a light entrepreneur with a business ID?

As a light entrepreneur with a business ID, taxes on your business activities are paid in advance taxes.

Advance tax is paid in advance for business activities. As a new entrepreneur, the amount of advance tax is based on your own estimate of the taxable income. The estimate is reported in OmaVero.

However, as an UKKO light entrepreneur with business ID, you do not have to worry about withholding advance taxes. According to your tax rate, we deduct the portion of advance tax from the invoices you send and account them to the Tax Administration. All you have to do is tell us your tax rate.

Advance taxes are settled at the end of the year as an additional advance. For each of your invoices, money equal to your tax percentage is set aside so that the additional advance can be paid at the end of the year.

Note! We do not do advance taxation if you already have your own business ID number and pay, for example, advance tax invoices because of it. In this case, mark your tax rate as 0% in our service.