Taxation for sole traders (toiminimi)

In the service, we take care of withholding advance tax from your sales invoices according to the tax rate you've set yourself in the app. At the end of the year, we pay the collected advance taxes to the tax authority in a single payment.

Determining your tax rate

The tax rate you add in the app is deducted from the private withdrawals made to you that are invoiced through Truster. The tax rate therefore needs to be high enough to cover your business's tax payments.

You can use your own wage income tax card as a guide when estimating how high a rate to add to the service. However, you don't need a wage income tax card for this — a simple calculator is enough.

When making your estimate, you can also make use of your company's current result. You can see it in the app's Reports section, in the Income Statement.

Setting the tax rate

Set the tax rate from the Tax rate section in the app's menu.

What if I don't set a tax rate?

If you don't set a tax rate, we won't withhold tax from your payments. Please note that this may lead to back taxes, which you'll need to pay yourself.

Please remember that we don't set the tax rate for you - you need to make sure it stays up to date yourself.

You can track your income throughout the year and update your tax rate at any time, as many times as needed.

Advance taxes imposed by the Finnish Tax Administration

If you've been assessed advance taxes by the Finnish Tax Administration, set the tax rate to 0 in the app. The Finnish Tax Administration, or you as the entrepreneur, estimates your taxable income for the year, and the amount of advance tax is determined based on this estimate. The advance taxes shown in your MyTax (OmaVero) must be paid by you by the due date.