Cooking the books in Finland

Pizza, low cost, high profit Credit: Micah Tindell Unsplash

The phrase ‘cooking the books’ has apparently been taken to a new heights according to the Finnish Tax Authority which has cracked down on pizza outlets.

Some 40 food businesses have already been charged with criminal offences and it is estimated that at least €5 million in tax has not been paid.

Three areas of the country investigated

The actual investigation only concentrated on three main areas of Finland where the largest proportion of these outlets exist, so the actual size of the problem is no doubt greater.

Of the 174 inspections that have taken place, alleged irregularities have been discovered in 114 resulting so far in the 40 cases that are underway.

According to Tarja Valsi, Deputy Director of the Tax Administration  “in most cases details of sales are missing and income has not been reported to the Tax Administration.”

There is often a difference between the amount of money received from credit and debit card payments compared to the amounts actually declared and if cash sales are not recorded in a till as they should be, then the money could well remain unaccounted for.

Large amounts of cash can’t be explained

In other cases owners have used their businesses to pay their living expenses and in some cases, large amounts of cash have appeared in individuals accounts without any explanation of where the money came from.

Monitoring of these types of businesses will continue and expand during 2024.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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