Value Added tax rule changes : implication for Finnish and Romanian energy companies
Barden, Mabel (2018)
Lataukset:
Barden, Mabel
Laurea-ammattikorkeakoulu
2018
Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201804305974
https://urn.fi/URN:NBN:fi:amk-201804305974
Tiivistelmä
The purpose of this thesis was to determine the extent at which the vat rule changes will impact energy companies within Finland and Romania using an aggregated forecasted financial analysis with currencies converted to Euro. The result showed that the vat rule change will impact both Finland and Romania in different ways. The extracted data for 10 energy companies (5 per country) were averaged to obtain a single number to represent each country and were based on balance sheet and income statement. The study was conducted by using a forecasted growth rate based on historical aggregated data from the companies. It was noted that the Vat for Finland was 22% (2015) and 24% (2017), while the Vat for Romania was 24% (2015) and 19% (2017). The vat rate were applied to revenue in order to see the impact of Vat on the countries. Using a financial ratio analysis, the impact of Vat was established. Ultimately, it was shown that the Vat rule change is expected to have a significant impact on the valuation of Finnish energy companies, based on a maximum _+5% change in valuation from baseline to 2020, based on the aggregate data (from 2018 to 2020).