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Hämeen LO 23.1.1987 85/II AI generated

Court allows deduction of accrued but unpaid interest from assets for wealth tax purposes.

Case Number Hämeen LO 23.1.1987 85/II
Court / Authority
Jurisdiction Finland (FI)
Decision Date
Outcome Allowed / Granted
Open official source Machine-readable Markdown (.md)

Legislator summary

AI generated

The County Administrative Court allowed the taxpayer to deduct accrued interest from their assets for wealth tax purposes, despite the tax board's rejection. The taxpayer argued that interest accumulated between August and December 1984 constituted a debt on December 31, 1984, even though it was not due until February 1985. The court ruled that the interest was indeed a debt on the valuation date because the obligation existed independently of the payment deadline.

Legislator headnote

AI generated

TVL 51 §; Accrued interest constitutes a deductible debt for wealth tax purposes on the valuation date, regardless of the subsequent payment deadline.

Keywords

AI generated
wealth tax deduction accrued interest debt valuation date criteria payment deadline relevance tax liability timing

Cited Legislation

AI generated
TVL 51 §

Cited Case Law

AI generated
KHO:1942-I-52
AI generated
admin_1990_mikkeli-county__577
Court dismisses tax adjustment claim as prior assessment already had legal force.
admin_1989_uusimaa-county__1323
Tax loss carryforward adjustment barred after finalization of prior year tax assessment.
admin_1988_kuopio-county__211
Court allows deduction of mortgage interest for temporary rental home but denies other interest claims.
admin_1987_uusimaa-county__73
Court dismissed tax loss carryforward claim for unverified interest expenses exceeding approved deduction.
admin_1984_uusimaa-county__57
Court allows military subsidy deduction in tax calculation despite prior payment of interest.

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Full text

Verovelvollisella velastaan ajalta 16.8.1984 - 7.2.1985 kertynyt korko 11 471 markkaa oli erääntynyt maksettavaksi viimeksi mainittuna päivänä. Valituksessaan lääninoikeudelle verovelvollinen vaati varoistaan velkana vähennettäväksi velasta ajalta 16.8. - 31.12.1984 kertyneen koron 8 989 markkaa. Valituksen johdosta antamassaan veronoikaisupäätöksessä verolautakunta katsoi, että vuodenvaihteeseen asti juossutta, mutta vielä maksamatonta korkoa ei ole pidettävä sellaisena velvoitteena, joka voitaisiin vähentää varallisuusverotuksessa velkana. Lääninoikeus katsoi, että velasta ajalta 16.8. - 31.12.1984 kertynyt ja 31.12.1984 maksamatta ollut korko 8 989 markkaa oli sen estämättä, että korko oli erääntynyt maksettavaksi vasta 7.2.1985, ollut verovelvollisen velkaa 31.12.1984 ja siten vähennettävä hänen varoistaan.

Verovuosi 1984.

Äänestys 2-1.

TVL 51 §

Ks. myös KHO:1942-I-52