Futures taxation in Finland

General information, not tax advice. Verify your own situation or consult a professional.

Futures are capital income

In Finland, gains from standardized derivatives — futures and standardized options — are taxed as capital income. The capital income tax rate is 30% up to 30,000 euros and 34% on the part exceeding that. The rate is applied to your total capital income for the year, not to a single trade.

Losses from derivatives are deductible. They are first offset against other capital income, and any excess is confirmed as a capital income loss that can be deducted from capital income in later years.

The deemed acquisition cost does not apply to futures

This is the heart of the matter. The deemed acquisition cost (20% or 40% of the sale price) is a shortcut for calculating capital gains on property that has an acquisition cost — for example shares or fund units. A standardized derivative does not work this way: you are not disposing of an asset bought at a price, you are settling a contract based on the realized gain or loss.

Because the derivative result is already a euro-denominated gain or loss, the taxable amount is always the actual result. The deemed cost simply cannot be used, and attempting it would produce an incorrect return. The same applies whether you close by an offsetting trade or the contract expires and is cash-settled.

How the euro result is formed

A futures result is not just the price change; it is the price change multiplied by the contract multiplier, or point value. Each closed contract produces its own result, and if the trading currency is not the euro, that result is converted into euros.

• Conversion uses the exchange rate on the trade date (in practice the ECB reference rate).
• The open and close dates may carry different rates — both are taken into account.
• The multiplier varies by product, so the same point move can mean a very different euro amount.

Worked example of one contract

Assume one index future with a point value of 50 euros per point. You open at 4,800 and close at 4,860. The difference is 60 points.

• Result in points: 4,860 − 4,800 = 60 points.
• With the multiplier: 60 × 50 € = 3,000 € gain.
• For a euro-denominated product the result is already in euros; for a non-euro product the 3,000 units would be converted at the trade-date rates.
• The taxable amount is the full 3,000 € — nothing is reduced by a deemed cost.

If another contract produced an 800 euro loss the same year, the net taxable result from derivatives is 3,000 − 800 = 2,200 euros, added to your other capital income.

Reporting in OmaVero

Derivative results are reported as capital income. In practice you need, for each closed contract, the euro-denominated realized gain or loss, correctly converted. Report losses carefully so they are actually deducted, and keep broker reports as supporting documents.

How PnlTrack helps

PnlTrack imports your Interactive Brokers futures automatically and computes the taxable result correctly:

• Applies each product's correct contract multiplier when computing the euro amount.
• Computes the realized result per contract, both offset-closed and expired positions.
• Converts currency at the correct ECB trade-date rates.
• Does not offer a deemed acquisition cost for futures — because it may not be used — and produces ready, correct OmaVero figures instead.

General information, not tax advice. Verify your own situation or consult a professional.