In DIAS real estate transactions, the buyer’s bank pays any transfer tax in connection with the payment of the purchase price, but the buyer must submit the transfer tax return to the Tax Administration independently. The buyer may submit the transfer tax return as soon as the deed of sale has been signed in the National Land Survey of Finland’s Property Transaction Service.
In a DIAS transaction, the application for registration of ownership is initiated automatically once the deed of sale has been signed in Property Transaction Service. The transfer tax return must be submitted no later than when applying for registration of ownership. According to the Tax Administration’s guidance, no late-filing penalties will be imposed on the buyer if the transfer tax return is submitted no later than on the third day after the deed of transfer has been signed, or at the latest on the next possible banking day.
DIAS sends buyers instructions by email on how to submit the transfer tax return once the payment of the purchase price and any transfer tax has been completed at the bank.
If there are multiple buyers – for example, spouses – each buyer must submit their own transfer tax return.
Instructions for submitting the transfer tax return
- The buyer may submit the transfer tax return in MyTax or using a paper form.
- The deed of sale is required for the return. The deed of sale contains the information needed to complete the return, such as the signing date.
- The date of the last signature on the deed of sale is entered as the signing date of the deed of sale in the transfer tax return.
- Supporting documents do not need to be attached in all cases. Before submitting the return in MyTax, it will be indicated whether appendices are required or whether the return alone is sufficient.
- In the transfer tax return, the acquired property is entered as real estate.
- Amounts must not be rounded; they must be entered to the nearest cent.
- Each buyer must submit their own transfer tax return, indicating only their individual share of the purchase price and other consideration.
- The return shows a calculation of the transfer tax and the due date for payment of the tax. This information is shown in the return even if the bank pays the tax on behalf of the buyer.