The Finnish tax administration has published guidance regarding the new group deduction (contribution) rules for final losses of subsidiaries in the European Economic Area (EEA) from 2021. The new rules entered into force on 1 January 2021 and apply for the first time from the 2021 tax year. The purpose of the group deduction is to enable the so-called final losses of a subsidiary located in an EEA state to be taken into account in the taxation of a parent company that is generally taxable in Finland, as required by EU law. The guidance clarifies the conditions that must be...