The Finnish Tax Administration is lacking essential bank account information for approximately 50,000 individuals who are entitled to receive tax refunds next month, the agency said in a press release on Wednesday.
The authority is urging taxpayers to take prompt action as the deadline to supply an account number for refunds due in August is on Thursday 27 July. Affected taxpayers can upate their account numbers via the secure login at the MyTax service.
The next tax refunds are due to be paid on 3 August. Approximately 1.8 million taxpayers are expected to receive refunds amounting to a total of 830 million euros in August, according to estimates by the Tax Administration.
"It is mostly young people that earned enough to pay tax last year and are due a tax refund that have not provided us with their account details, as they have not been required to do so in the past. We hope that the parents of these young people will remind their children to submit their account details promptly. That way, they can avoid disappointment on tax refund day," Tax Administration representative Mari Kleemola said in the release.
If taxpayers do not supply an account number, they will be sent a money order for the amount and will end up paying a fee to have it cashed. Last year, some 24,000 taxpayers were left without payment on refund day because they did not update their account details.
August also marks deadline affecting some people's back tax payments, with some 280,000 people due to pay their remaining taxes for 2022 on 1 August.