Unofficial translation, legally binding only in Finnish and Swedish
Finnish Competition Authority / Ministry of Employment and the Economy
Issued in Helsinki on 1 September 2011
In accordance with the decision by the State Council, made on the presentation of the Ministry of Employment and the Economy, it shall be decreed on the basis of Section 24(5) of the Competition Act (948/2011):
Turnover under the Competition Act
In Sections 22(1) and 24 of the Competition Act (948/2011), turnover refers to the worldwide gross sales of the ordinary activities of an entity or foundation based on the most recent financial statements drawn up, of which the sales rebates granted, value-added tax and other taxes directly related to the turnover have been deducted, as prescribed in the Book-Keeping Act (1336/1997).
The turnover shall be adjusted to correspond to the turnover of 12 months if the accounting period has differed from it.
The turnover shall be adjusted by deducting from it the turnover of the disposed or suspended business operations gained through a concentration carried out after the closing of an accounting period and by adding to it the turnover of the acquired business operations gained through a concentration carried out after the closing of the accounting period, if the impact of the disposition, suspension or acquisition of business operations could not have been fully taken into account in the last confirmed financial statements.
From the turnover shall be deducted the turnover between a party to the concentration and an entity or foundation in such a relation to it as referred to under Section 24(1) or 24(3) of the Competition Act.
Change from sole control to joint control
If, as a result of a concentration, sole control that has prevailed in an entity or foundation changes to joint control, the founder of a joint venture thus established shall be considered anyone exercising joint control. The turnover of an entity or foundation that has been under sole control shall be included in the turnover of the founder of the joint venture who has exercised sole control.
Changes in joint control
If, as a result of a concentration, joint control that has prevailed in an entity or foundation changes to sole control, or the one exercising joint control in an entity or foundation jointly controlled changes or the structure of control otherwise changes, the acquirer of control shall be considered anyone remaining to exercise control after a concentration has been carried out.
In the instances referred to in 3(1) above, the object of acquisition is considered the entity or foundation wherein control is exercised. To the turnover of those remaining to exercise control will not be included the turnover of an entity or foundation considered the object of an acquisition.
Division of turnover of joint ventures in certain cases
If a party to a concentration or an entity of foundation in such a relation to it as referred to under 24(1) or 24(3) exercises joint control with another party to the concentration or an entity of foundation in such a relation to it as referred to under 24(1) or 24(3); or with another entity or foundation, the turnover of an entity or foundation jointly controlled shall be equally divided among all those exercising control.
Calculation of turnover of entities or foundations controlled by public bodies
To the turnover of the business operations of a public bodies and the turnover of an entity or foundation controlled by a public body shall be included the turnovers of the other business operations of the same public body and the entities or foundations controlled by the public body, provided that the public body coordinates their economic decision-making.
Turnover in foreign currency
The turnover in currency other than euro shall be exchanged into euros according to the middle rate quoted by the European Central Bank corresponding to the relevant accounting period.
Geographical allocation of turnover
The turnover resulting from Finland referred to in Section 22(1) of the Competition Act includes the sales income of the parties to the concentration referred to in Section 1 of this Decree which have accumulated from the sales of products and provision of services in Finland. The turnover shall be allocated according to what is the customerís location at the date of the transaction. The income of branch offices and departments situated in Finland shall be included in the turnover of credit institutions, investment firms and other financial institutions.
Entry into force
This decree enters into force on 1 November 2011.
Helsinki, 1 September 2011
Minister of Employment