Finland to reform estate administration and inheritance taxation

Finland is preparing a major regulatory overhaul aimed at simplifying estate administration and inheritance taxation, expected to be implemented by early 2027. The reform, which has been in development for nearly a decade, seeks to reduce the bureaucratic burden and paperwork faced by relatives following a death.

Key components of the reform include the creation of a new electronic shareholder register that automatically collects shareholder information from official registers. This will eliminate the need to order paper certificates and family status reports. Additionally, the reform will allow for the preparation of estate inventories and inheritance tax returns through the Finnish Tax Administration’s OmaVero service, enabling the automatic transfer of asset data.

The project is a collaborative effort involving the Digital and Population Data Services Agency, the Tax Administration, the National Archives, and churches. Rosa Arola, a project manager at the Digital and Population Data Services Agency, noted that the automation of family status investigations will significantly reduce the active role required from clients, as shareholder information will begin to accumulate in the estate's register automatically.