The largest tax bill owed following the deadline for filing the past tax year’s declaration has come to EUR 1.7 million, a Tax and Customs Board (MTA) spokesperson said, while the largest rebate came to EUR 13,000. The deadline for filing was May 2.
Over 730,000 people submitted their income tax returns to the Tax Board, over 90% of the expected volume of 800,000, while the shortfall was largely due to income earned from outside Estonia not being received by the tax returns’ due date.
More than 97% of declarations were submitted electronically.
Annika Oja, MTA service manager, said: “The average amount to be repaid is EUR 390. An outlier and one of the largest amounts has come to EUR 13,000”, adding that those with children tended to get back more.
As to owed taxes, Oja said that: “We expect that the MTA will be paid an additional EUR 92 million; the average repayment amount of which is somewhere around the EUR 1,300-mark, though the highest this year has come to EUR 1.7 million,” adding that a private individual owed this sum.
Overall, rebates come to EUR 201 million for this tax year; underpaid tax owed is almost the same at EUR 219 million.
The large sums relate to major real estate transactions, for instance, Oja said; 1,200 people declared for crypto currency transactions to a total of EUR 31 million, and income relating to crypto has risen compared with recent years.
Other factors, which made their impact known this year, included the liberalization of the second pillar of the Estonian pension scheme, which gave those who cashed out more to make investment with themselves.
The Estonian population is generally tax-compliant, while declarations of rental income have also improved, Oja said. (ERR/Business World Magazine)