The deadline for submitting the income tax return is approaching – Lääne Elu

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Foto: Pixabayrh

The Tax and Customs Board reminds you that the end of April is also the deadline for submitting the income declaration of a natural person and a private enterprise. To date, 730,000 declarations have been submitted to the agency, and 97 percent of them through the e-services environment e-MTA. To date, 206 million euros of overpaid income tax have been returned to people, and 52 million euros are due for additional payment.

Income declaration must be submitted by all self-employed persons (FIEs), as well as all people who in 2023 profited from the sale of securities, made deposits or withdrawals to an investment account, earned a salary or received dividends from abroad, or earned income through platforms, either by selling goods there or services.

Income declaration must also be submitted by all those who are entitled to tax benefits and wish to use them. This year, for the last time, people can deduct housing loan interest from their taxable income, also for the last time it is possible to receive additional tax-free income for a child up to 17 years old from the second child, and spouses can transfer their unused tax benefits to the spouse’s income tax return.

FIEs must submit the basic form A and form E of the income declaration in all cases, regardless of whether or how much income was received from the business. In case the business income was not received, the E-form is submitted with zeros. The obligation to submit a declaration also applies if the business was interrupted or terminated within the year.

If the income declaration has been submitted, you should follow the information page on your personal income declaration in e-MTA, where you can see information about the results of the initial check of your declaration and, if necessary, you can submit additional documents where the office should need them.

All overpaid income tax will be returned to the bank account specified in the declaration no later than October 1, 2024. The additional tax amount must be paid by the same date.

2024-04-24 06:10:08
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