Next Generation Partners

Tax in Finland


Borenius is highly regarded for its full-service, high-end tax practice, which offers advice to international clients through its partnership with Taxand and covers all areas of tax mandates. The firm has specialist practitioners for transfer pricing and indirect tax work and has taken an active role in developing the Finnish tax system. Einari Karhu advises on corporate tax with notable experience in international tax matters and M&A structuring work. Heikki Wahlroos advises on tax issues in the private equity and venture capital sectors, and counsel Henna Jovio stands out for her knowledge of VAT, excise duties and customs matters.

Responsables de la pratique:

Heikki Wahlroos; Einari Karhu

Autres avocats clés:

Henna Jovio

Les références

‘Very experienced team. Hands on approach. Availability and professionalism.’

‘Solution driven and practical recommendations.’

‘Accessible and quick response.’

Principaux clients


CapMan Plc

Morgan Stanley Real Estate Investing

Intera Partners Buyout Funds

Agnico Eagle Finland Oy

Aberdeen Standard Investments

Fortum Corporation

Harvia Plc

Netflix, Inc.

Principaux dossiers

  • Advising Netflix, Inc on various tax matters in relation to the public takeover of Next Games Corporation, the first publicly listed mobile game developer and publisher in Finland.
  • Advised SRV on the reorganisation of the company’s financing and balance sheet in connection with the write-down of its Russian and Fennovoima assets totalling €141.2m.
  • Advised Valmet Corporation on a transfer pricing dispute before the Finnish Supreme Administrative Court by providing a second opinion.

Hannes Snellman

Hannes Snellman provides ‘first-class advice in complex, cross-border tax planning’ issues and the team represents clients in high-profile tax disputes and advises on major public and private M&A transactions, capital markets transactions and financial instruments, private equity issues and incentive schemes. Heikki Vesikansa is the co-head of the tax practice and assists the firm’s clients with transaction tax structuring and tax planning issues as well as tax litigation. Fellow co-head Piia Ahonen has substantial experience in international indirect tax work and advises Finnish and international clients in the automotive, real estate and energy sectors. Jenni Parviainen is a name to watch for her work in tax disputes and advance ruling proceedings.

Responsables de la pratique:

Heikki Vesikansa; Piia Ahonen

Autres avocats clés:

Harri Vehviläinen; Joakim Frände; Jenni Parviainen; Stefan Stellato

Les références

‘First-class advice in complex, cross-border tax planning.’

‘Heikki Vesikansa and Joakim Frände both provide excellent tax advice with a deep understanding of international matters. Their associate Stefan Stellato is also one to watch.’

‘Good knowledge, good service.’

Principaux clients

Ahlstrom-Munksjö Plc


Caverion Plc

Fiskars Plc

Orange Capital Partners


Areim AB

Virala Oy Ab

Valmet Plc

Slättö Core Plus AB


Kesko Oyj

Metso Outotec Plc

Principaux dossiers

  • Advised Virala Acquisition Company Plc on the first SPAC in the Finnish market and the first de-SPAC in the Nordic market.
  • Acting as counsel to a Finnish private equity fund in a Supreme Administrative Court Yearbook case confirming the correct application of equity ratio exemption in interest deduction limitations – for the first time for private equity funds.
  • Acted as counsel to Orange Capital Partners on the acquisition of a major residential portfolio of 2,200 apartments located across 16 cities from Starwood Capital Group and Avara Oy.


Roschier provides high-end tax advice as part of it's full-service offering, often handling the tax aspects of national and cross-border M&A transactions, private equity mandates, investments, real estate projects and energy matters as well as public company restructurings and tender offers. The team is regularly involved in tax planning issues relating to fund formations, changes in business models, incentive schemes and transactions involving VAT and other indirect taxes. Mika Ohtonen has a strong profile in cross-border transactions and international tax matters, and jointly leads the practice with Ossi Haapaniemi, who is highly active in tax disputes, ruling processes and high-end corporate tax matters, including cross-border transactions. Merja Raunio is a leading transfer pricing specialist, and Andreas Bussman is experienced in high-end tax planning and structuring matters arising from complex domestic and cross-border M&A and private equity transactions.

Responsables de la pratique:

Mika Ohtonen; Ossi Haapaniemi

Autres avocats clés:

Merja Raunio; Andreas Bussman; Eero Männistö

Les références

‘Key strength is definitely their tax law knowledge and capability to understand the client’s unique situation and give precise advice.’

‘They are able to clearly communicate the merits of the case both to the client and the tax authority.’

‘The tax team at Roschier is very professional and experienced, especially as it relates to tax dispute resolution.’

Principaux clients

Pfizer Oy

Esperi Care Group

Nets Holding A/S

Trevian Asset Management

Huhtamäki Oyj

Konecranes Oyj

IK Investment Partners

Nordic Capital

Assa Abloy AB

Ahlström Capital

Stora Enso Oyj

Telia Company

Borealis Group

Bravedo Group (ex. Barona Group)


Neles Corporation

Bain Capital


Suomen Autokauppa Oy

Mobidiag Oy

Fortum Oyj

Intera Partners


Stockmann Oyj Abp

Principaux dossiers

  • Advised Wolt in the €7bn combination with DoorDash.
  • Advised IK Partners on the acquisition of Renta Group.
  • Advised InfraVia on the sale of Aurora Infrastructure to Equitix.

Castrén & Snellman

Castrén & Snellman has assisted listed companies and their subsidiaries on cross-border and domestic transactions involving complex tax issues, and matters involving securing tax neutrality. Group co-head Sari Laaksonen has a notable track record in advising on the cross-border aspects and structuring considerations of M&A, real estate and financing transactions. Co-head Mikko Alakare has key experience spanning direct and indirect tax and is singled out by clients as ‘a strong player when it comes to tax litigation‘. Jenni Korhonen has advised on a large amount of restructurings of listed companies and handled the related tax elements. In early 2023, Janne Juusela joined the practice from Borenius.

Responsables de la pratique:

Sari Laaksonen; Mikko Alakare

Autres avocats clés:

Jenni Korhonen; Janne Juusela

Les références

‘The C&S Tax team has shown its strength especially in the following areas: tax litigation/disputes, succession planning as well as M&A related tax issues. The C&S Tax team is strong and versatile when it comes to different fields of tax. Their main focus is in income taxation but the team has successfully handled various VAT related matters and disputes.’

‘Mikko Alakare is a strong player when it comes to tax litigation/disputes, Sari Laaksonen is the go-to person when it comes to transaction, private wealth or tax planning related questions. Jenni Korhonen is a rising star in the field of M&A tax and she is extremely pleasant to work with.’

‘Castren Snellmann’s tax team is characterised by excellent analytical skills and a high degree of precision. We have recently worked with them on comparative tax issues involving European law and found the cross-border cooperation productive, determined and highly professional. The working atmosphere is highly collegiate and pleasant.’

Principaux clients

Evli Bank



Mobile Pay



Intera Partners

Founders of a Foundation for the Conservation of the Paimio Sanatorium

Clear Capital


Helen and the Bank of Åland’s Wind Power Fund Non-UCITS

9 Lives


RLC Holding AB


Vantaan Energia

Principaux dossiers

  • Advised Evli Plc, the Finnish listed company, on two major transactions, the first involving the demerger and subsequent merger with Fellow Finance and the second involving the merger with EAB Group Plc.
  • Acted as legal and tax adviser to Bilot Plc on the merger of two Finnish listed companies Bilot Plc and Vincit Plc.
  • Acting as legal and tax adviser to F-Secure Corporation on the separation of F-Secure’s Consumer Security business through a partial demerger.

Dittmar & Indrenius

Dittmar & Indrenius' tax and structuring practice focuses on transactional tax advice, tax litigation and tax advisory work including setting up sustainable and tax efficient business models. The firm has been involved in M&A tax work and structuring issues and has handled the tax optimisation of transactions and investment funds. Practice head Kai Holkeri assists with structuring and optimising M&A transactions from a tax perspective and also advises on financial transactions and tax disputes, with expertise in international tax structuring work. Ritva Aalto is noted for her experience in high-end tax matters and high-profile tax disputes.

Responsables de la pratique:

Kai Holkeri

Autres avocats clés:

Ritva Aalto; Vilho Lammi

Principaux clients



MB Funds

Garmin Ltd.

Providence Strategic Growth Capital Partners L.L.C.




AMP Capital Investors


AXA Real Estate

Expedia Group


The Association of Finnish Local and Regional Authorities

Aberdeen Standard Capital

Aller Media

Wipunen Asia Capital

Elite Asset Management Plc



Principaux dossiers

  • Advised Colas on the acquisition of Destia.
  • Acted for a multinational group in a significant transfer pricing dispute in Finland.
  • Represented a global bank in a tax related dispute in Finland.


Krogerus is an established practice in the Finnish and international tax arena, advising on large and complex matters related to private equity, real estate and infrastructure transactions. The firm has provided tax advice on high-profile M&A mandates and has deep expertise on tax issues associated with fund formations. Practice head Samu Lassila has expertise in high-profile transactional tax work and has recently advised major international and domestic clients on large Finnish transactions, while Antti Lehtimaja specialises in taxation issues related to M&A, incentive schemes, financing instruments and investment funds, and also acts in tax litigation.

Responsables de la pratique:

Samu Lassila

Autres avocats clés:

Antti Lehtimaja; Vilma Pilipponen; Anna Hänninen

Les références

‘The team is able to provide pragmatic tax related advice without making the taxation the main topic of discussion.’

‘Antti Lehtimaja is able to simplify and streamline complex taxation related questions in a manner where focus remains on the deal itself instead of escalating taxation as a main point of discussion.’

‘Team has been able to attract highly qualified individuals from the market.’

Principaux clients


RELEX Solutions




Forendo Pharma





Principaux dossiers

  • Advised the Board of Directors of Nordea on a €2bn share buy-back programme.
  • Advised Retail Logistics Excellence – RELEX in connection with an investment round of €500m led by funds managed by Blackstone Growth.
  • Advised Forendo Pharma on the transaction whereby Organon acquired the entire share capital of the company.

Waselius & Wist

Waselius & Wist focuses on high-end tax work spanning transaction-related tax issues, structuring matters and tax litigation. The firm regularly advises clients on the tax aspects of corporate reorganisations and restructurings, acquisitions, spin-offs and joint ventures alongside financing arrangement issues. Niklas Thibblin is head of the firm’s tax practice and focuses on corporate tax mandates with cross-border elements.

Responsables de la pratique:

Niklas Thibblin

Autres avocats clés:

Anna-Emilia Vuorenmaa

Les références

‘Perseverance and conscientiousness are hallmarks of this firm.’

‘Niklas Thibblin is the James Bond of tax litigation!’

‘Knowledgeable lawyers, solid experience and great team that is always accessible.’

Principaux clients

NRC Group Finland

LocalTapiola Finance

T. Rowe Price

Saldo Finance plc


Principaux dossiers

  • Assisting Saldo Finance with the restructuring and reorganisation of the group in a cross-border transaction (including Luxembourg, Finland, Lithuania and Sweden).
  • Assisting several T. Rowe Price funds with the reclaim of withholding taxes.
  • Assisting T. Rowe Price Funds SICAV in another matter concerning the reclaim of withholding taxes.

Bird & Bird

Bird & Bird's tax practice is led by counsel Ville Alahuhta, who is singled out for his advice on M&A transactions and private equity funds. The experienced team has extensive knowledge of all areas of tax and counts domestic and international companies, private equity funds, individuals, families, and non-profit organisations on its notable client roster.

Responsables de la pratique:

Ville Alahuhta

Les références

‘Easily approachable, experienced.’

‘Experienced individuals and pragmatic advice.’

Principaux clients

EAB Private Equity

Cambri Group

NordTreat AS

Asuntosalkku Plc

Legendary Capital Oy

Romanoff Group Oy

Trind Ventures Oü and several other sellers

Administer Plc

Toivo Group Plc

Sponsor Fund IV Ky

Shareholders in Oy Frank Students Ab

Principaux dossiers

  • Advised Asuntosalkku Plc on its listing to First North market place, as well as its pre-IPO group restructuring.
  • Advised Cambri Group on planning, updating and documenting its transfer pricing model on a group level.
  • Assisted a fund managed by Elite Alfred Berg on its significant investment into Proventia Group.

HPP Attorneys

HPP Attorneys offers tax advice to foreign shareholders and handles tax policy assignments. Group head Jaako Klemettilä specialises in M&A and general corporate tax issues, incentive schemes, group reorganisations and international tax work. Marko Koski is a key name to note for operational corporate tax, value added tax and excise duty mandates.

Responsables de la pratique:

Jaakko Klemettilä

Autres avocats clés:

Marko Koski

Les références

‘Jaakko Klemettila’s service has been outstanding.’

‘Very knowledgeable about the subjects in scope. Advice received of highest standard. Local expertise, always available if needed, quick turnaround, highly motivated.’

‘Awake, listening and reflect upon that. Respond quickly with suggestions, which is utterly important for entrepreneurs.’