Languages

English, Finnish

Piia Ahonen

Specialist Partner Tax

Languages

English, Finnish

Piia Ahonen heads Hannes Snellman’s VAT and other indirect tax services, including excise duties and customs. She frequently advises both Finnish and international clients in the real estate, infrastructure, energy, finance, manufacturing, retail, and transportation sectors. Piia has extensive experience in tax litigation and other proceedings and M&A transactions. She is a trusted advisor to clients, providing guidance on how tax policies affect their businesses and assisting with processes related to legislation amendments.

She is also a well-known and popular lecturer in VAT topics and active in Hannes Snellman’s ESG Group.

Selected References

Parties:

Fazer

Transaction:

Hannes Snellman advises Fazer in the construction and financing of its greenfield project in Lahti, Finland, comprising a new, state-of-the-art chocolate factory intended to support Fazer’s long-term strategic growth and capacity expansion. The construction works will start this summer, and the factory is scheduled to be operational in 2028.

Deal Value:

Approximately EUR 400 million

Role:

Counsel to Fazer

Contacts

Parties:

Prisma Properties AB, WasaGroup

Transaction:

Hannes Snellman acted as counsel to Prisma Properties AB in the acquisition of a new retail property in Ylivieska, Finland. The property comprises approximately 11,000 square metres of leasable space with an annual rental value of approximately EUR 1.5 million. The acquisition is being made through a forward funding structure together with Finnish project developer WasaGroup, at an underlying project value of EUR 20.5 million.

Deal Value:

EUR 20.5 million

Role:

Counsel to Prisma Properties AB

Contacts

Parties:

SSAB, Danieli, SMS, NCC, and Peab

Transaction:

Hannes Snellman advised SSAB in its transformation project initiated with the decision to build a fossil-free mini-mill in Luleå, Sweden, including recent key technology contracts with Danieli (comprising two electric arc furnaces, secondary metallurgy, a caster and strip mill) and SMS (cold rolling complex), and contracts for planning and execution of building and civil engineering work with Peab and NCC for the cold mill complex and mini-mill sites extending over an area of 30 and 40 hectares, respectively.

Value:

The total mini-mill investment is estimated to amount to EUR 4.5 billion.

Role:

Counsel to SSAB

Contacts

Parties:

DevCo Partners, Vexve

Transaction:

Hannes Snellman advised DevCo Partners in EUR 521 million single-asset continuation fund transaction to support the next growth chapter of Vexve, a European leader in mission-critical valve solutions for energy infrastructure. The transaction provides DevCo with significant additional capital for the continued support of the long-term growth of Vexve within the accelerating energy transition space.

Deal Value:

EUR 521 million

Role:

Counsel to DevCo Partners

Contacts

The Rajamäenkylä wind farm in Karijoki and Isojoki will be completed in 2028 and comprise 54 Nordex N175/6.8 wind turbines with a total capacity of 367 MW. The Honkakangas wind farm in Halsua will be completed in 2027 and comprise 16 Nordex N175/6.525 wind turbines with a total capacity of around 105 MW. The projects have a long-term PPA with a multinational corporate offtaker, and OX2 has also secured a long-term debt financing agreement with Santander Corporate & Investment Banking. The investment amounts to more than EUR 700 million, and the wind farms will remain under OX2’s ownership once constructed.

Hannes Snellman advised OX2 in respect of the construction contracts for full grid and balance of plant, turbine procurement, PPA, development, as well as Finnish law aspects of the project financing.

Our core team comprised Maria Landtman, Klaus Metsä-Simola, Marjaana Martikainen, Katja Perätalo, Minna Juhola, Elisa Panula, Emmi Malm, Julia Ranta, Linda Härkönen, Rauli Elenius, Alisa Ainonen, Elina Uitto, and Jenny Karlsson, (Real Assets), Josefina Aalto, Anna Huttunen, and Oona Aalto (Finance), Piia Ahonen and Harri Vehviläinen (Tax), Olli Mäkelä (Dispute Resolution), and Legal Assistants Victoria Reiter, Salla Mäki, Zoe Röpelinen, Melisa Göllü, and Laura Pöyhönen.

Contacts

Hannes Snellman assisted the client in an advance ruling process to confirm that certain services acquired regarding the target investment were considered VAT exempt management services of special investment funds and that the client did not have to pay VAT under the reverse charge mechanism. The matter was important to the client, as in practice it may vary what kind of services are needed to be acquired when acting as a lead investor or co-investor joining an investment at a later stage. The services in question formed a sufficient bundle of services qualifying for the criteria of VAT exempt financial services necessary for the client to be able to make the investment decision and similar investments in a more efficient way in the future as well. The Finnish tax authorities’ first opinion was that the services were VATable, but Hannes Snellman’s VAT team was able to change the outcome during the advance ruling process. The ruling is now final.

Contacts

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

Parties

Häggblom & Partners Ltd. and the sellers, UB Nordic Forest Fund II LP, United Bankers

Transaction

Counsel to Häggblom & Partners Ltd. and the sellers in the sale of UB Nordic Forest Fund II LP. The sale of approximately 33,000 hectares of forest properties and partnership interests in UB Nordic Forest Fund II LP, managed by United Bankers, was agreed upon with MEAG, an asset management company of the Munich Re Group acting on behalf of its group client. Upon completion, the buyer will pay a total purchase price of approximately EUR 166 million.

Deal Value

Approximately EUR 166 million

Role

Counsel to Häggblom & Partners Ltd. and the sellers

Contacts

  • Matti Lajunen

    Partner +358 40 720 7036 matti.lajunen@hannessnellman.com

  • Panu Vikberg

    Senior Associate +358 50 411 4452 panu.vikberg@hannessnellman.com

  • Essi Peltoniemi

    Associate +358 45 155 1111 essi.peltoniemi@hannessnellman.com

  • Eemi Piirainen

    Associate +358 40 484 9299 eemi.piirainen@hannessnellman.com

  • Nora Mansikka

    Legal Assistant +358 40 559 2206 nora.mansikka@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Harri Vehviläinen

    Specialist Partner +358 40 183 1636 harri.vehvilainen@hannessnellman.com

Counsel a real estate company in a case regarding the VAT deduction of real estate investments. The Finnish Tax Administration had not accepted the VAT deductions made by the company because it had found that the premises were used for both VAT taxable and VAT exempt activities. In the case, it was evaluated from the VAT perspective how the leasing area can be determined per floor of the building while also considering how the premises are described in the articles of association.

Assisted by Hannes Snellman's tax team, the company appealed the Tax Administration’s decision to the Administrative Court and was able to prove that the premises were mostly used for purposes entitling to a VAT deduction, wherefore the company had had the right to deduct the VAT of the costs related to these premises that were used for VATable purposes. The company won the case in the Administrative Court, after which Hannes Snellman assisted the company with the preparation of corrective VAT returns and the refund of VAT that had been groundlessly left unrefunded.

 

Contacts

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Isabella Kartila

    Senior Associate +358 44 514 3829 isabella.kartila@hannessnellman.com

Parties:

YIT

Transaction:

Counsel to YIT in the disposal of its wind and solar business, comprising of 2.3 GW renewable energy projects and a team of 16 employees.

Deal value:

Value not public

Role:

Counsel to YIT

 

 

 

Contacts

  • Tapio Teräkivi

    Senior Partner +358 40 769 8273 tapio.terakivi@hannessnellman.com

  • Marjaana Martikainen

    Counsel +358 40 844 0174 marjaana.martikainen@hannessnellman.com

  • Elisa Panula

    Senior Associate +358 50 917 6807 elisa.panula@hannessnellman.com

  • Alisa Ainonen

    Associate +358 50 495 6363 alisa.ainonen@hannessnellman.com

  • Heikki Vesikansa

    Partner +358 40 844 2117 heikki.vesikansa@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Sofia Ropo

    Senior Associate +358 40 545 2866 sofia.ropo@hannessnellman.com

  • Harri Vehviläinen

    Specialist Partner +358 40 183 1636 harri.vehvilainen@hannessnellman.com

  • Salla Mäki

    Senior Legal Assistant +358 40 718 6808 salla.maki@hannessnellman.com

Parties

If Livförsäkring AB (Buyer), Mandatum Life (Seller)

Transaction

If Livförsäkring AB's acquisition of a life insurance portfolio from Mandatum Life

Deal Value

EUR 17.5 million

Role

Counsel to If Livförsäkring AB

Contacts

Parties:

United Bankers’ UB Timberland Fund (AIF), Taaleri Forest Fund III LP

Transaction:

United Bankers’ UB Timberland Fund (AIF) agreed to acquire Taaleri Forest Fund III LP. The forests managed by Taaleri Forest Fund III comprise 19 forest properties covering in total a surface area of approximately 7,650 hectares of which more than 6,400 hectares is productive forest land.

Deal value: 

Value not public

Role:

Counsel to United Bankers’ UB Timberland Fund (AIF)

Contacts

Parties 

Slättö Core Plus and PEAB

Transaction 

Hannes Snellman acted as counsel to Slättö in the formation of a joint venture with PEAB regarding investments into residential housing in Finland.

Deal Value 

Value not public

Role

Counsel to Slättö Core Plus

Contacts

Parties

Tencent (Investor), Vitruvian Partners (Co-Investor), Enfuce Financial Services Oy (Target)

Transaction

Counsel to Tencent in its further investment in Enfuce Financial Services, a leading European Card-as-a-Service (CaaS) platform for modern card issuing and processing, in connection with a EUR 45 million Series C investment round

Deal Value

EUR 45 million

Role

Counsel to Tencent

Contacts

  • Tuire Kuronen

    Partner +358 40 743 2313 tuire.kuronen@hannessnellman.com

  • Johanna Haltia-Tapio

    Specialist Partner +358 40 552 3478 johanna.haltia-tapio@hannessnellman.com

  • Anna Mäkinen

    Senior Associate +358 50 494 9159 anna.makinen@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

Parties

Anora Group Plc (Altia Plc, Arcus ASA) and Galatea AB

Transaction

Required pre-closing divestment of Altia’s brands Skåne Akvavit, Hallands Fläder, and Brøndums and cognac brand Grönstedts (along with Arcus’s aquavit brand Akevitt Spesial and spirits brands S.P.R.T. and Dworek) to Galatea AB. The divestment to a suitable buyer was required by the Finnish, Norwegian, and Swedish competition authorities as a condition to their approval of the merger between Altia and Arcus to form Anora Group.

Deal value

Not public

Role

Lead counsel to Altia Plc (Anora Group Plc)

Contacts

  • Riikka Rannikko

    Partner +358 40 731 1611 riikka.rannikko@hannessnellman.com

  • Robert Gordin

    Senior Associate +358 44 079 9799 robert.gordin@hannessnellman.com

  • Satu Kokko

    Senior Associate +358 40 838 9157 satu.kokko@hannessnellman.com

  • Panu Siitonen

    Partner +358 50 547 1377 panu.siitonen@hannessnellman.com

  • Mikko Huimala

    Partner +358 44 530 0753 mikko.huimala@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

Parties 

Quadoro Investment GmbH, YIT Construction Ltd.

Transaction 

Counsel to a fund managed by Quadoro Investment GmbH in an acquisition of a MEUR 32 office property located in Järvenpää with a lettable area of approximately 6,500 square metres from YIT Construction Ltd

Deal Value 

EUR 32 million

Role

Counsel to Quadoro Investment GmbH

Contacts

Parties 

Quadoro Investment GmbH, EKE-Construction Ltd.

Transaction 

Counsel to a fund managed by Quadoro Investment GmbH in an acquisition of an office property located in Espoo with a lettable area of approximately 4,200 square metres from the constructor EKE-Construction Ltd.

Deal Value 

Value not public

Role

Counsel to Quadoro Investment GmbH

Contacts

Parties

Virala Acquisition Company Plc

Transaction

Hannes Snellman acted as legal counsel to Virala Acquisition Company Plc on its IPO and the listing of its Class C shares on the SPAC segment of the regulated market of Nasdaq Helsinki

Deal Value

EUR 107.5 million

Role

Counsel to Virala Acquisition Company Plc

Contacts

  • Sonja Siggberg

    Partner +358 40 837 6967 sonja.siggberg@hannessnellman.com

  • Anniina Järvinen

    Partner +358 50 377 1177 anniina.jarvinen@hannessnellman.com

  • Sofi Lehtinen

    Senior Associate +358 40 620 7199 sofi.lehtinen@hannessnellman.com

  • Linnea Lehtonen

    Senior Associate +358 50 352 4855 linnea.lehtonen@hannessnellman.com

  • Tommi Kovero

    Senior Associate +358 40 523 9292 tommi.kovero@hannessnellman.com

  • Annemari Rosi

    Senior Associate +358 40 573 5304 annemari.rosi@hannessnellman.com

  • Aki Salmela

    Senior Associate +358 50 307 9056 aki.salmela@hannessnellman.com

  • Heikki Vesikansa

    Partner +358 40 844 2117 heikki.vesikansa@hannessnellman.com

  • Stefan Stellato

    Managing Associate +358 50 356 5566 stefan.stellato@hannessnellman.com

  • Isabella Kartila

    Senior Associate +358 44 514 3829 isabella.kartila@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Antti Nyberg

    Partner +358 40 838 9375 antti.nyberg@hannessnellman.com

  • Johanna Haltia-Tapio

    Specialist Partner +358 40 552 3478 johanna.haltia-tapio@hannessnellman.com

Counsel to a taxpayer in the Supreme Administrative Court Yearbook case outlining VAT treatment of coworking services.

Contacts

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Heikki Vesikansa

    Partner +358 40 844 2117 heikki.vesikansa@hannessnellman.com

Parties

A fund managed by Quadoro Investment GmbH

Transaction

Acquisition of Hermia 5 and Hermia 6 office properties located in the Hermia Science Park in Tampere with a lettable area of approximately 30,000 square metres

Deal value

Value not public

Hannes role

Counsel to a fund managed by Quadoro Investment GmbH

Hannes team

Contacts

Parties

City of Espoo, Kumppanuuskoulut Oy, YIT Oyj, Meridiam Investments II

Transaction

The City of Espoo signed a service agreement with Kumppanuuskoulut Oy on the implementation of five schools and three daycare centres

Deal Value

Approx. EUR 300 million

Role

Counsel to City of Espoo

Team

Rabbe Sittnikow, Jussi Ekonen, Janna Pihanurmi, Janne Veneranta, Roosa Väre, Markus Bremer, Maria Landtman, Samuli Pirinen, Heikki Vesikansa, Harri Vehviläinen, Piia Ahonen, Joakim Lavér

Contacts

Parties 

DWS (buyer), Regenero (Seller)

Transaction

DWS's acquisition of the Accountor Tower, a 24,000 sq. m. office development in Keilaniemi, Espoo, from YIT and HGR Property Partners’ joint venture Regenero

Deal Value

Value not public

Role

Counsel to DWS

Contacts

  • Tapio Teräkivi

    Senior Partner +358 40 769 8273 tapio.terakivi@hannessnellman.com

  • Tuuli Pikkarainen

    Senior Associate +358 44 552 8148 tuuli.pikkarainen@hannessnellman.com

  • Panu Vikberg

    Senior Associate +358 50 411 4452 panu.vikberg@hannessnellman.com

  • Heikki Vesikansa

    Partner +358 40 844 2117 heikki.vesikansa@hannessnellman.com

  • Jenni Parviainen

    Managing Associate +358 40 808 6523 jenni.parviainen@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

Rankings

  • Hall of Fame, "Piia Ahonen, VAT partner, has exceptional knowledge of indirect taxes.", Tax, Legal 500, 2025
  • “Highly Regarded” in Indirect Tax and “Women Leader in Tax”, ITR World Tax, 2025
  • Hall of Fame, Tax, Legal 500, 2024
  • Recommended in “Corporate Tax – Advisory”, Lexology Index, 2024
  • “Highly Regarded” in Indirect Tax and “Women Leader in Tax”, ITR World Tax, 2024
  • "Piia Ahonen has shown great dedication and professionalism in the co-operation I have had with her. She has been very quick to respond even in ad hoc cases, and it has always been pleasant to work with her.", Tax, Legal 500, 2023
  • “Highly Regarded” in Indirect Tax and “Women Leader in Tax”, ITR World Tax, 2023
  • "Piia Ahonen is very experienced and theoretically strong in VAT matters.", Tax, Legal 500, 2022
  • "Specialist partner Piia Ahonen is very technically skilled within the field of VAT and indirect taxation, where she is second to none. Further, she has a great team of talented practitioners.", Tax, Legal 500, 2021
  • Ranked as a Leading Individual in Tax Finland, Legal 500, 2021-2022
  • Ranked "highly regarded", Indirect Tax Leaders Guide 2019

Memberships and Positions of Trust

  • Member of the Finnish Bar Association
  • Member of the Association for Finnish Tax Professionals
  • Member of the Committee of Law and Tax of the Tampere Chamber of Commerce & Industry, 2013–2019

Professional Background

  • Specialist Partner, Hannes Snellman, 2019–
  • Ernst & Young Oy, 2005–2019
  • Tax Office for Major Corporations, 2004–2005
  • Local Tax Office of Helsinki, 2001–2004
  • Trained on the Bench, District Court of Mikkeli, 2001–2002

Education

  • Master of Laws, University of Helsinki, 2001

Publications

  • Havaintoja oikeusperiaatteiden soveltamisesta arvonlisäverotusta koskevassa oikeuskäytännössä ja lakihankkeissa, Verotus Journal, 2024
  • Kiinteistöliiketoiminnan arvonlisäverotus, hard copy, 2023 (co-author)

Speaking Engagements

  • Suuri Veropäivä, speaker, 2024
  • European VAT club meeting, host and panel discussion co-lead, 2024
  • VAT course, Aalto University, speaker, 2023
  • Hannes Snellman’s Tax Morning Coffee, speaker, 2023
  • Alma Talent's seminar on compensations and contracts, speaker, 2022
  • Lecture organised by Kunnallisalan Kirjanpitohenkilöstö ry, speaker, 2021
  • Hannes Snellman’s Tax Morning Coffee, speaker, 2021
  • Property Valuation Day, speaker, 2021
  • Hannes Snellman Webinar ”Datakeskukset sijoituskohteina”, speaker, 2021
  • Hannes Snellman Webinar ”Kohti parempaa kiinteistöliiketoimintaa ALV-asiantuntijan silmin”
  • Webinar hosted by Veronmaksajain Keskusliitto ry, speaker, 2020
  • Arvonlisäverotusiltapäivä hosted by ST-Akatemia, speaker, 2020