Services

Tax

Hannes Snellman’s tax practice offers high-end corporate tax advice, VAT and other indirect tax advice, tax litigation assistance, and private wealth planning. The team continuously provides tax advice on major public and private M&A transactions, capital markets transactions, financial instruments, incentive schemes, as well as formation of private equity and other types of investment funds. Within private wealth planning, the team assists clients in succession tax planning, relocation tax advice, and investment structures. Hannes Snellman regularly represents clients to defend their tax positions in demanding tax litigation and often handles cases which become case law precedents for Finnish tax law. Our tax practitioners provide high-quality tax solutions in an increasingly complex field of law, and they have a strong international reputation for providing pragmatic and effective tax advice.

References

Counsel in Administrative Court case confirming mutual real estate company’s taxation under Business Income Tax Act.

Jenni Parviainen

Jenni Parviainen

Managing Associate | Helsinki
jenni.parviainen@hannessnellman.com
Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com

Counsel in Supreme Administrative Court case confirming equal treatment of a Swedish real estate investor in Finnish taxation

Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com
Harri Vehviläinen

Harri Vehviläinen

Counsel | Helsinki
harri.vehvilainen@hannessnellman.com
Stefan Stellato

Stefan Stellato

Associate | Helsinki
stefan.stellato@hannessnellman.com

Counsel in Supreme Administrative Court case confirming that Refinancing of real estate company’s bank loans is not subject to transfer tax.

Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com
Matleena Pälve

Matleena Pälve

Senior Associate | Helsinki
matleena.palve@hannessnellman.com
Johan Hägerström

Johan Hägerström

Managing Associate | Helsinki
johan.hagerstrom@hannessnellman.com

Counsel in Supreme Administrative Court case confirming that share transfer tax is not due on purchase price of shareholder loans

Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com
Matleena Pälve

Matleena Pälve

Senior Associate | Helsinki
matleena.palve@hannessnellman.com

Counsel to a taxpayer receiving confirmation that a transfer of a business at an early stage qualifies as a transfer of a going concern for VAT purposes.

Piia Ahonen

Piia Ahonen

Specialist Partner | Helsinki
piia.ahonen@hannessnellman.com
Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com
Jenni Parviainen

Jenni Parviainen

Managing Associate | Helsinki
jenni.parviainen@hannessnellman.com

Parties

Funds managed by Sentica Partners Oy (Buyer), Mikael Swanljung and his family (Sellers), Picnic Finland Oy, Europicnic Oy and La Torrefazione Oy (Targets)

Transaction

Sentica Partners’ acquisition of majority ownership in Picnic Company Group from Mikael Swanljung and his family

Deal Value

Value not public

Role

Counsel to Mikael Swanljung and his family

Mikko Heinonen

Mikko Heinonen

Senior Partner | Helsinki
mikko.heinonen@hannessnellman.com
Johannes Husa

Johannes Husa

Senior Associate | Helsinki
johannes.husa@hannessnellman.com
Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com
Johan Hägerström

Johan Hägerström

Managing Associate | Helsinki
johan.hagerstrom@hannessnellman.com
Sara Soini

Sara Soini

Associate | Helsinki
sara.soini@hannessnellman.com

The Finnish Supreme Administrative Court issued a resolution concerning the VAT treatment of intermediary services to Finnish students aiming to study abroad in the U.S. Piia Ahonen successfully defended the client’s position through instances, and the resolution issued by the Supreme Administrative Court as a yearbook decision finally confirms that the client’s position is right and that the tax assessments were unlawful. The intermediary services are not subject to Finnish VAT due to the fact that the client acted as an intermediary between U.S. schools and Finnish students in relation to U.S.-based education and accommodation services that are not taxed in Finland.

Piia Ahonen

Piia Ahonen

Specialist Partner | Helsinki
piia.ahonen@hannessnellman.com

Handled pilot cases concerning the tax treatment of debt pushdown in the Supreme Administrative Court.

Counsel to a tax payer in a court proceeding which confirmed that earn out payments cannot be taxed as salary income subject to highest progressive tax rates.

Counsel to several landlords defeating Finnish Tax Authorities’ attempt to deny VAT deductions on the basis of tenant’s bankruptcy.

Counsel to a client receiving confirmation from the Supreme Administrative Court that despite domestic tax law provisions the treaty dividend participation exemption prevents Finland from taxing a capital repayment from paid-in capital by a US subsidiary.

Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com
Harri Vehviläinen

Harri Vehviläinen

Counsel | Helsinki
harri.vehvilainen@hannessnellman.com
Stefan Stellato

Stefan Stellato

Associate | Helsinki
stefan.stellato@hannessnellman.com

Counsel to a taxpayer in a case concerning the VAT treatment of coworking services. 

Parties

Santander Consumer Finance Oy, SFC Rahoituspalvelut Kimi VI DAC

Transaction

Issue of EUR 634,700,000 Class A Notes and EUR 64,800,000 Class B Notes by SFC Rahoituspalvelut Kimi VI DAC secured by a portfolio of hire purchase agreements made by Santander Consumer Finance Oy

Deal Value

EUR 699,500,000

Role

Counsel to Santander Consumer Finance Oy

Henrik Mattson

Henrik Mattson

Partner | Helsinki
henrik.mattson@hannessnellman.com

Represented P Oy in a state aid case (C-6/12) related to the selectivity in the Finnish special permission procedure concerning the utilisation of tax losses following a significant change in the ownership of a Finnish company. In the case, the Finnish Supreme Administrative Court had requested preliminary ruling from the European Court of Justice and as a result, P Oy received the permission to utilise the tax losses.

Prevailed in a published landmark Supreme Administrative Court case where the Supreme Administrative Court annulled res judicata CFC decisions (including its own) because they were in conflict with Cadbury Schweppes (C-196/04) ECJ decision. In 2002, the Supreme Administrative Court had neglected its duty to refer the case to the ECJ.

Counsel to Swedish foundations in dividend withholding tax reclaim cases where the Supreme Administrative Court decided, based on the EU principles, that non-residents should also receive interest for the amounts paid back. The Finnish legislation was later amended to correct the situation.

Prevailed in a case recently published in the Supreme Administrative Court Yearbook concerning the question of whether the tax surcharge should be calculated on the basis of the gross amount or the net amount of the mistake.

Prevailed in a published landmark Supreme Administrative Court case concerning the allocation of income from employee options in cross-border situations. Due to the decision, the Finnish system was changed to better match the OECD principles.

Counsel to Raisio plc in a case against the Finnish Tax Authorities in order to have the profit of MEUR 220 generated from the divestment of Raisio plc’s chemicals business declared tax exempt. The Finnish Supreme Administrative Court decided the case in favour of Raisio plc, thereby “saving” them some MEUR 80.

Counsel in legal proceedings before the Finnish Supreme Administrative Court leading to a ruling whereby Finnish tax authorities are not entitled to raise back taxes from companies by re-characterising legal transactions without relevant mandate given by Finnish domestic tax law.

Counsel in a Central Tax Board case resolving the correct consolidation level indicated in the safe haven rule of the new Finnish interest deduction limitations (earnings stripping).

Counsel in legal proceedings before the Helsinki Administrative Court confirming an earlier Supreme Administrative Court decision that transfer taxes are not payable on the termination of share options.

Counsel to several tax payers successfully claiming a refund for unlawfully imposed transfer tax on issue of employee stock options.

Counsel to a client receiving a confirmation from the Finnish Supreme Administrative Court that an effective redemption clause is to be taken into account when valuing shares for gift tax purposes.

Rankings

  • Ranked Band 1 in Finland  
  • Interviewees describe it as a "solid firm in the market," and note that "they have one of the biggest tax practices."
  • One market insider says that "it is one of the leading firms in Finland," adding: "They are always timely, professional and everything is done in a non-bureaucratic manner."
  • 'Ranked Tier 1 in Tax, Finland'
  • 'A client highlights the practice's commerciality, noting: "They understand the underlying issues and impacts and provide very valuable insights from the tax side, and they understand the business side, too."'
  • 'Another client comments on the team's ability to advise on cross-border matters, saying: "They understand what international clients need and they have excellent language and negotiation skills."'
  • ‘Ranked tier 2 in Tax’
  • ‘Ranked tier 1 in transactional tax & tax controversy - Finland.’
  • “Highly professional and focused.”
  • ‘Ranked tier 1 in transactional tax - Finland.’
  • 'Clients report that the team "works very effectively and can provide high-quality statements in a short time period."
  • ‘Another client enthuses that "whenever we needed their help, they were there right away," and adds that "the whole impression of the firm and their expertise is really good."'
  • ‘Ranked tier 1 in transactional tax - Finland.’
  • 'One client said: "I was very pleased how Hannes Snellman served our business during the acquisition process. They were very professional and their deep knowledge of M&A helped me a lot during the process."'
  • 'One client notes that "they are strong performers, very patient, professional and proactive."'
  • 'The team receives praise from interviewees for its "excellent quality and strong resources."'
  • 'The dedicated team consists of seven professionals, including three partners, and recently appointed associate Matleena Pälve, who came from EY. She focuses on corporate and international tax and assists clients in tax litigation. Another significant partner is Heikki Vesikansa, who is a member of the legal committee of the Finnish Venture Capital Association.'
  • 'Outstanding tax team advising on both national and cross-border tax matters. Areas of expertise include the tax aspects in public M&A transactions, financial instruments, private equity deals and venture capital. Scope of expertise also extends to corporate tax issues, EU tax law and tax litigation.'
  • ‘Hannes Snellman specialises in tax planning and structuring public and private M&A transactions. Heikki Vesikansa joined from KPMG to head the transactional structuring practice. He advises clients in tax structuring of investments, divestments and joint ventures.’

Related News


Main Contacts

Heikki Vesikansa

Partner | Helsinki
+358 9 2288 4496
heikki.vesikansa
@hannessnellman.com

Team

Piia Ahonen

Piia Ahonen

Specialist Partner | Helsinki
piia.ahonen@hannessnellman.com
Johan Hägerström

Johan Hägerström

Managing Associate | Helsinki
johan.hagerstrom@hannessnellman.com
Meeri Karlsson

Meeri Karlsson

Senior Associate | Helsinki
meeri.karlsson@hannessnellman.com
Isabella Kartila

Isabella Kartila

Associate | Helsinki
isabella.kartila@hannessnellman.com
Jenni Parviainen

Jenni Parviainen

Managing Associate | Helsinki
jenni.parviainen@hannessnellman.com
Matleena Pälve

Matleena Pälve

Senior Associate | Helsinki
matleena.palve@hannessnellman.com
Outi Raitasuo

Outi Raitasuo

Partner | Helsinki
outi.raitasuo@hannessnellman.com
Viivi Rousku

Viivi Rousku

Associate | Helsinki
Viivi.Rousku@hannessnellman.com
Stefan Stellato

Stefan Stellato

Associate | Helsinki
stefan.stellato@hannessnellman.com
Harri Vehviläinen

Harri Vehviläinen

Counsel | Helsinki
harri.vehvilainen@hannessnellman.com
Heikki Vesikansa

Heikki Vesikansa

Partner | Helsinki
heikki.vesikansa@hannessnellman.com
Maria Qutishat

Maria Qutishat

Legal Assistant | Helsinki
maria.qutishat@hannessnellman.com