Tax filing will start next week | News

Again, long queues are to be expected and the council recommends not rushing the submission of the return and, if possible, submitting it electronically.

Annika Oja, head of personal income tax at the MTA said it should be noted that from this year it is not possible to access the council’s electronic service via a bank link , an identity card, Smart-ID or Mobile-ID is required .

When you complete the tax return via internet banking, you need to authenticate yourself again.

Returns for electronic filings will begin on February 25 and for paper filers on March 18.

Oja said it is important to point out that the speed of the return does not depend on the time of submission and that it takes about two weeks for a procedure.

The tax return is pre-filled on the basis of data known to the MTA, which must be checked and, if necessary, corrected. For the third consecutive year, refundable income tax can also be donated to charity.

Almost all tax returns have been submitted electronically so far
Evelyn Liivamägi, head of the MTA’s tax department, said income from the transfer of self-produced agricultural products has changed taxation.

Income tax will also be recovered on contributions to the third pension pillar, the activity of which increased last year. However, it can only be reimbursed from contributions paid into their own account, i.e. if, for example, a parent has paid money into a third pillar pension account intended for a child, income tax will not be refunded.

Users of an investment account must report contributions and withdrawals made to the account.

Liivamägi said that people often forget to declare income received from abroad, which is not pre-filled in the declaration and must be declared regardless of whether income tax was withheld abroad. .

Liivamägi noted that transactions in crypto assets, which must be taken into account when reporting income, have also increased.

In the case of crypto assets, it is important that they are not taxed as securities but as assets. This means that a person cannot deduct the losses of other transactions from the profits of a transaction.

The MTA reminds taxpayers that untaxed income such as rental income, online sales, and income earned on platforms such as Airbnb and Bolt must be self-reported.

The board expects to see about 750,000 returns submitted this year. Last year, the MTA refunded $196 million in overpaid income tax, and people had to pay a total of $75 million in income tax.

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