In this article, you will learn about Timma Pay’s commission fees and the VAT change in Finland, following a decision by the Finnish tax authorities. Commission fees refer to payment processing costs automatically deducted from payouts by the payment provider Adyen. This change does not affect Marketplace commission fees or other invoicing.
Until now, it hasn’t been necessary for us to charge VAT on these fees. However, starting on January 1, 2025, a 25.5% VAT will be added to commission fees, as the tax authorities require.
The fees remain the same, with the added VAT shown below:
Payment terminal:
0.95% + €0.04 per transaction + 25.5% VAT
Payments in advance on the Online booking and the Marketplace:
0.95% + €0.07 + 25.5% VAT
Gift card machine:
3.49% + €0.07 + 25.5% VAT
The VAT is tax-deductible for most businesses, like with other VAT-liable products and services.
Examples:
Payment terminal:
For a purchase of 50€, the 25,5% VAT-inclusive fee is 0,65€, of which the VAT amount is 0,13€.Payments in advance on the Online booking and the Marketplace:
For a purchase of 50€, the 25,5% VAT-inclusive fee is 0,68€, of which the VAT amount is 0,14€.Gift card machine:
For a purchase of 50€, the 25,5% VAT-inclusive fee is 2,28€, of which the VAT amount is 0,46€.
This update will be applied automatically on January 1, 2025, so no action is needed on your part. If you have questions our customer support team is happy to assist you.
If for any reason this change doesn’t work for your business, you can choose to end your Timma Pay contract by submitting a written notice to our customer support.