Finland Ratifies Amendments to Residency Rules for UCITS and AIF Funds

Finland's President has ratified the law amending the Income Tax Act in relation to the tax residence of certain foreign investment funds. Under Finland's general corporate residence rules, a foreign entity may be considered a resident taxpayer in Finland if its place of effective management is in Finland. A temporary exception has applied for tax years 2021 to 2026 for certain foreign undertakings for collective investment in transferable securities (UCITS) and alternative investment funds …