Private entrepreneurship and royalties
You can direct your personal royalties paid by Teosto to your business. This requires that your business name is registered in the tax prepayment register.
If we pay royalties to your business, we will pay them as the gross amount and report your royalties to the Finnish Tax Administration as income from a personal source.
Notify us every year if you would like your royalties to be paid to your business as a private entrepreneur
If you would like us to pay your royalties to your business, you must notify us at the beginning of each year that you will continue to operate under your business as a private entrepreneur.
If you do not notify us, we will have to withhold tax on the royalties paid to you in accordance with your tax card.
Notify us about your wish for your royalties to be paid to your business by using the contact form (available only in Finnish). On the form, select I am a composer, lyricist or arranger (olen säveltäjä, sanoittaja tai sovittaja) > I am already a Teosto member (olen jo Teoston asiakas) > Other (Muu). In the subject field of the form that opens, write payment of royalties to a private entrepreneur and state the following in the Other matter field:
- Your company name
- Your Business ID
Please also fill in the contact information fields on the form.
Read more:
Finnish Tax Administration: different types of business and taxation