E-invoicing compliance and regulatory updates - Finland

Electronic Invoicing in Finland 

Is e-invoicing mandatory in Finland ?

The Finnish e-invoicing mandate is considered a soft mandate, as it does not require all invoices to be in electronic format. However, since April 2020, e-invoicing has been mandatory for Business-to-Government (B2G) transactions. Additionally, all companies with an annual turnover above EUR 10,000 have the right to demand e-invoices from their suppliers.

Who is affected?

Finnish companies with a local VAT ID are subject to compliance requirements, depending on their business type and annual turnover.

Compliance requirements

B2G: All suppliers invoicing the state or government entities must comply with the e-invoicing mandate, unless otherwise agreed.

B2B: Companies with an annual turnover above EUR 10,000 have the right to demand e-invoices from their suppliers.

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Key Deadlines

No upcoming deadlines.

Standards & Platforms   

There is no governmental clearance platform in Finland. The supplier and buyer can mutually agree on the invoice format and delivery method.

What formats are required in Finland?

The format or method of invoice transmission is not strictly mandated. However, buyers have the right to reject invoices that do not comply with Directive 2014/55/EU.

Formats that adhere to the EN 16931 standard are also compliant with Directive 2014/55/EU.

Archiving in Finland

What are the archiving requirements in Finland?

According to the Finnish Accounting Act (1336/1997), documentation and correspondence related to business transactions must be retained for at least six years after the end of the financial year. This results in a 6 (+1) year retention period for sales and purchase invoices.

Legal invoice:

• For suppliers: The legal invoice is the invoice sent to the recipient in the format the recipient receives. If the invoice is sent via email, the email is considered part of the legal invoice.
• For buyers: The legal invoice is the invoice received from the supplier in the format the supplier originally sent it. If the invoice is sent via email, the email is considered part of the legal invoice.

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Key Actions

• Ensure compliance – Be prepared to issue e-invoices in compliant formats for B2G transactions and send e-invoices for B2B transactions.
• Engage with stakeholders – Invoice senders and receivers should communicate with their customers and suppliers to explore electronic invoicing options. This can drive cost reduction, increased automation, and improved collaboration.
• Archive invoices – Retain business transaction documents, including invoices, for 6 (+1) years after the end of the financial year to comply with Finnish regulations.

Finnish E-Invoicing and Archiving requirements at a glance:

Supplier requirement: A Finnish governmental supplier must transact with the government via e-invoices, unless otherwise agreed. A B2B supplier must have the capability to send e-invoices in compliant formats based on buyer demand. Suppliers may choose to send invoices in the format agreed upon with the buyer.

Buyer requirement: A Finnish buyer has the right to request invoices in electronic format from their supplier.

Archiving requirement: All invoices must be archived in compliance with Finnish regulations, requiring retention for a 6 (+1) year period after the end of the financial year.