European Open 2017 Prize Payments Info

This page contains all the info you need about the prize payments of the European Open 2017. Check the prizes and payout on this page.

We must stress the effect handling times of tax-at-source card applications at the Finnish tax administration on the prize payments handling times in overall. This is by far the most time consuming part of the process and you should take care of the application now if you expect to cash out at the European Open. This speeds up the prize payment process remarkably. The Finnish tax administration must process and approve the tax-at-source card applications. The handling time for those applications is 2-4 weeks. Prizes of foreign recipients can’t be paid without a proper tax-at-source card.

Contact info

You must send all the documents to events@innovaeurope.com. You can also reach our financial department from that email. They are the most qualified people in the business to answer any questions you may have and they’re the ones actually making the payments happen & getting your applications approved.

We will also provide everything you need to get these documents done at the European Open tournament center and we will assist you in filling all the required forms. However, if you choose to wait until then you will have to wait for your prize for several weeks.

Taxation & Tax-at-source card application

15% of the prizes will be withheld and paid to the Finnish tax administration regardless of the value of the prize. This is a flat rate tax for all foreigners who earn prizes. However, there are countries that have a separate tax agreement with Finland and those will be taxed according the specific agreement. (E.g. Americans won’t be taxed by the Finnish tax administration unless they earn at least 10000€ in a year in Finland.)

Tax-at-source card application
Here’s a sample form where we have highlighted the fields that you must fill on the actual form.
And here’s the form that you must fill to apply for a tax-at-source card for the European Open 2017 prize.

Payment info
Please send your payment info when you send the application. We need the following info:

1. Name:
2. Email address:

Then choose one of the three options below and send the info marked with * for that option.

1) IBAN Account
*IBAN:
*BIC:

2) Paypal account
*Paypal address:

3) Other bank account
*Account number:
*BIC/SWITF-code:
*Routing number:
*Bank’s name:
*Bank’s address:
*Recipient’s address:

Prize payments schedule

We have prepared a prize payments schedule that we’ll follow after the event, so you’ll know exactly when to expect to receive your prize.

Note that the schedule does not include the time required by the Finnish tax administration to process the tax-at-source card applications. (If you send a tax-at-source card application to us on July 30 it will still take 2-4 weeks to process the application and prize will not be paid on August 4.)

Please note that it also takes a few working days for the payments to be processed by the banks, so your money most likely won’t arrive on the pay day.

December 31, 2017, is the final deadline when all taxation and payment info documents must be delivered to us. Failure to meet this deadline means forfeiting the prize. We have a PDGA approval for this procedure.