The tax footprint refers to the tax revenue and tax-like charges accrued by society as a result of the company’s activities. In its tax reporting, Finnpilot Pilotage Ltd. complies with the country-specific tax reporting guidelines for companies in which the State is a majority shareholder.
The company has no operations in any countries classified as tax havens, nor does the company utilise any international dimensions in its tax planning for the purpose of minimising its taxation. The company’s taxes are paid in their entirety to Finland. Finnpilot also does not pay any profits, dividends or interest outside of Finland.
The company’s turnover in 2019 was 40.9 MEUR with an operating profit, before taxes, of 2.7 MEUR. The turnover for 2019 includes a 4.0 MEUR subsidy for pilotage in the Saimaa region.
Over the past four years, Finnpilot has invested a total of 9.4 MEUR in machinery, vessels and equipment and properties. The share of investments in 2019 totalled 2.5 MEUR.
The calculation of the company’s footprint takes into account those taxes and tax-like charges in which Finnpilot has a statutory obligation to pay or collect the tax or charge in question. Finnpilot’s tax footprint totalled 13.5 MEUR in 2019. Of this figure, the share of taxation was 0.3 MEUR, tax-like charges related to the personnel totalled 6.6 MEUR, and the employees’ withholding tax amounted to 6.7 MEUR. The company’s share of statutory pension insurance contributions was 3.9 MEUR and other social security expenses amounted to 0.7 MEUR.
In addition to direct and indirect taxation, the reporting of Finnpilot’s tax footprint also includes tax-like charges related to the personnel and the tax withheld from salaries paid to the employees. The reported taxes are based on information gathered in the company’s accounting and the report includes any taxes from the past five years that totalled a minimum of five thousand euro per year.
The amount of the energy tax included in the price of electricity has been calculated on the basis of the value of acquisitions in accordance with the average price and share of the price represented by the electricity tax as statistically reported by the Energy Authority. The excise tax on fuel is not reported in the calculations, because the company receives, upon application, a refund of the excise tax. The calculated income tax is based on the appropriations in accordance with the valid corporate income tax rate.
Finnpilot’s tax burden totalled -0.8 MEUR in 2019.