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Neste forks out highest corporate taxes in 2019 — €224m

Pharmaceutical giant Bayer came second after shelling out 141 million euros in corporate taxes.

nesteen kyltti
Neste, which ranked second in 2018, became the biggest corporate taxpayer in 2019. Image: Ismo Pekkarinen / AOP

State-owned oil company Neste became Finland's highest corporate taxpayer in 2019 after handing over a total of 224 million in combined group taxes.

Pharmaceutical giant Bayer paid a total of 141 million euros in corporate taxes to come in a distant second after Neste. The sum includes combined taxes of Bayer Nordic SE in Espoo and Bayer Oy in Turku.

In the banking sector, OP Bank Group was the biggest taxpayer with corporate taxes amounting to 140 million euros.

UPM group led the forest industry at 134 million euros in combined group taxes. It dropped four places from its top earner spot in 2018 when it paid more than 200 million euros. Neste at 145 million euros was the second-highest taxpayer in 2018.

Nordea Group, the largest financial group in the Nordics, claimed fifth place in terms of tax contributions 2019, having paid a total of 117 million euros.

Corporate tax refers to the tax paid by companies and entities on their profits. Companies themselves provide the group-level figures which the Finnish Tax Administration publishes every year.

The annual list, which also contains the tax and income information of people who earn 100,000 euros or more is typically handed over to news media and published in what has become known as a kind of national day of envy.

This year, game studio founder Petri Järvilehto became the highest individual taxpayer when he paid 10 million euros tax on his income in 2019.

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