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  • Maksu- ja Tolliamet
    or free of charge Securities transferred abroad Transfer of house apartment summer cottage or other immovable or movable property Transfer of the right to cut standing crop and felled timber Rent from commercial or residential lease and payment for encumbering a thing with limited real rights Taxation of income derived from sale of goods on the Internet Sale of inherited property Income derived from the assets upon the merger of the company with the assets of the natural person Income received abroad Pre completed information on an income tax return Securities transferred abroad The abovementioned rules and principles of taxation are applicable to the transfer of securities through a foreign financial intermediary The expenses made in foreign currency sales market prices of securities taxes paid and withheld income tax must be recalculated into euros according to the exchange rate of the European Central Bank on the date on which the expenses were made or income was received or on the date of payment or withholding income tax Acquisition cost of the assets acquired before 2011 must be recalculated into Estonian kroons according to the exchange rate of the Eesti Pank Bank of Estonia effective on that date and after that

    Original URL path: http://vanaweb.emta.ee/index.php?id=29313 (2016-02-16)
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  • Maksu- ja Tolliamet
    income tax on gains or income received from the following property transactions only gains from transfer of a real thing or movable sale or intermediation gains from intermediation of immovable property gains from transfer or intermediation of advance reservations as a proprietary right Consequently the property means primarily the immovable property e g land buildings or structures apartments but also movables e g timber Definitions Immovable means a delimited part of surface of the earth or a plot of land the essential parts of which are permanently attached things structures growing forest other plants unharvested crop which together with the land form a separate registered immovable A thing which is not immovable is movable e g timber Registered immovable is an immovable plot of land building lease usufruct apartment ownership or apartment building lease entered as a separate immovable in the land register An independent register part is opened in respect of each immovable entered in the land register and a unique number registered immovable number is assigned to it Right of superficies means encumbrance of an immovable with a right that would provide a person who is not the owner of an immovable to develop a housing on an immovable Right of superficies may be encumbered and transferred as an immovable A person in whose favour the right of superficies has been established has the right to have a permanently attached building on his or her immovable Besides the land under construction the right of superficies is extended to the part of an immovable which is necessary for use of the building Right of superficies in apartments is limited real right the object of which is a delimited dwelling or non residential premises of a construction that enable separate use Usufruct is a restricted real right encumbering a thing

    Original URL path: http://vanaweb.emta.ee/index.php?id=29315 (2016-02-16)
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  • Maksu- ja Tolliamet
    of the exchanged property where the expenses directly related to the exchange of property have been deducted Acquisition cost of property means Expenses made for obtaining acquisition property e g purchase price Expenses incurred by improvement e g renewal of a house and supplementing e g extensions of the buildings Commissions and fees paid upon acquisition of property e g notary fees state fee etc paid by a purchaser and other payments reflected in the contract or related to the contract Acquisition cost of property acquired by way of a financial lease is the total amount of contractual lease payments or down payments without interest Acquisition cost of a self manufactured thing means the total amount of expenses incurred in manufacturing the object e g construction costs of a building If a person transfers the property which has been previously taxed as property taken into personal use by a sole proprietor the amount added to business income is the acquisition cost from the transfer of such property In the case of the property received by succession the acquisition cost shall include only the expenses made by the successor Expenses directly related to transfer of property mean expenses inevitable on concluding a transaction e g a notary fee paid by the seller state fee and other payments related to concluding a contract expenses made for the benefit of concluding a more successful transaction e g a broker s fee property assessment fee upon the transfer of the right to cut standing crop and felled timber the expenses relating to forest management service fees paid for logging and transportation of timber are the expenses related to the sale of timber Attention Both the acquisition costs and the transfer costs must be certified It is not possible to deduct from gains the general expenditures related to asset managing e g the expenses on maintaining the transferable apartment payments for redecoration changing wallpapers painting etc administrative expenditures utility costs bills for electricity etc Example A person has acquired an apartment for 25 000 euros the acquisition cost and in 2015 the person sold the apartment for 40 000 euros the sales price The apartment was not used as a permanent or principal residence The expenses directly related to the sale asset assessment expenses related to the sales contract etc were about 2000 euros and this amount may be deducted from the income However the maintenance expenses made before sale of an apartment in the total amount of 500 euros are not subject to deduction irrespective of the fact that there are documents to certify the expenses made Gain from the sale of an apartment subject to income tax is calculated as follows 40 000 25 000 2000 13 000 euros Income tax rate applicable in 2015 is 20 where the amount of income tax is calculated as follows 13 000 x 0 20 2600 euros Accordingly the formula for calculating the taxable gain received from the sale of property is as follows SALES PRICE

    Original URL path: http://vanaweb.emta.ee/index.php?id=29318 (2016-02-16)
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  • Maksu- ja Tolliamet
    shall be taxable in the period of taxation in a calendar year when money from the sales transaction is received In case of swaps the gains are created in the period of taxation when a corresponding entry is made in the land register Income from transfer of property is declared on the income tax return form A which must be submitted to the Tax and Customs Board not later than by 31 March of the year following the receipt of income If you submit an electronic income tax return you will find part of the information filled in If a seller of the property receives the payment during several years then upon calculation of income of different periods the acquisition cost and expenses directly related with the sale are taken into account according to the proportion of money received in a particular year Example A registered immovable which was bought two years ago at the purchase price of 6400 euros will be sold at the price of 25 600 euros and the sales price will be received in two parts 6400 euros will be received this year and 19 200 euros next year or out of the sales price this year 25 and next year 75 will be received When considering the proportional acquisition cost this year 25 or 1600 euros of the purchase price and next year 75 or 4800 euros will be taken into account If a taxpayer wishes the acquisition cost and expenses directly related to the sale may be taken into account in the range of an amount received in the period of taxation i e gains will be subject to taxation when the income received would exceed the acquisition cost and the expenses related to the transfer As a rule income from intermediation of immovable

    Original URL path: http://vanaweb.emta.ee/index.php?id=29320 (2016-02-16)
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  • Maksu- ja Tolliamet
    property Computation of taxable gains Taxation and declaration of gains and payment of income tax Transactions of transfer of property exempt from tax Transfer of the right to cut standing crop and felled timber Rent from commercial or residential lease and payment for encumbering a thing with limited real rights Taxation of income derived from sale of goods on the Internet Sale of inherited property Income derived from the assets upon the merger of the company with the assets of the natural person Income received abroad Pre completed information on an income tax return Transactions of transfer of property exempt from tax Although as a rule gain from transfer of property is subject to taxation there are still some exceptions when the transactions related to the transfer or acquisition of property are exempt from tax Exemption from income tax is applicable by the following transactions transfer of the permanent or principal residence privatisation of an immovable with the right of pre emption where the dwelling is an essential part of it transfer of property returned to an entitled subject in the course of ownership reform ransfer of a summer cottage or garden house acceptance of succession receipt of property in

    Original URL path: http://vanaweb.emta.ee/index.php?id=29322 (2016-02-16)
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  • Maksu- ja Tolliamet
    Pre completed information on an income tax return Transfer of the right to cut standing crop and felled timber Depending on the circumstances and conditions of the transfer of timber the income received may be taxable as business income or as gains from transfer of property Due to different bases for taxation tax burden accounting for property and declaration it is important to know whether this is a business of a natural person or the transfer of property The gains derived from the transfer of the right to cut standing crop and felled timber may be carried forward to up to three following periods of taxation Upon the transfer of the right to cut standing crop and felled timber the taxpayer has the right to deduct certified expenses relating to forest management from the income received from the transfer of the right to cut standing crop or felled timber during the same period of taxation or three following periods of taxation if the following conditions are met forest management is carried out as defined in the Forest Act the owner of the forest has submitted a forest notification concerning the forest management activity to the Environmental Board in the case

    Original URL path: http://vanaweb.emta.ee/index.php?id=29324 (2016-02-16)
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  • Maksu- ja Tolliamet
    rights Taxation of income derived from sale of goods on the Internet Sale of inherited property Income derived from the assets upon the merger of the company with the assets of the natural person Income received abroad Pre completed information on an income tax return Rent from commercial or residential lease and payment for encumbering a thing with limited real rights When a person receives rent from the commercial or residential lease he or she should specify in advance whether such income is either business income or not If it is business income then a person must be registered as a sole proprietor and his or her income has to be declared on form E of the income tax return on business income The principles of declaration of income received from encumbrance of a thing with limited real rights e g the right of superficies or usufructs are analogous with the declaration of rent from commercial or residential lease If a person receives the aforementioned income that is not business income he or she should declare it on form A of the income tax return as follows if income tax has been withheld income received is to be entered in

    Original URL path: http://vanaweb.emta.ee/index.php?id=29326 (2016-02-16)
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  • Maksu- ja Tolliamet
    tax and a social tax and if the person has joined the mandatory funded pension system it is also subject to the contribution to the mandatory funded pension Business income shall be declared on Form E of the income tax return The business income received shall be declared on Form E even if the trader is not entered in the commercial register The person who has derived business income but is not registered can deduct from the business income the acquisition cost of goods certified and transaction costs related to purchase and sale other expenses by the non registered person cannot be taken into account In a situation where selling of articles is an occasional activity for a private person and there exist no features of business activity the proceeds received from the sales of goods shall be considered on taxation as the income derived from the transfer of property Such income shall be declared in subdivision 6 3 on Form A of the income tax return as transfer of other property The gains received shall be subject to income tax i e the difference between the purchase price and the selling price which has been reduced by the transaction costs related to the purchase and sale If a private person gets a commission for other persons purchases then such income shall be declared in subdivision 7 1 on Form A of the income tax return as other income if such activity is occasional and no continuous earnings are in question The income derived from the transfer of property and other income is subject to income tax only If the goods have been purchased for own use and sold further after the use then this shall be considered as sale of the goods in personal use Generally in this case

    Original URL path: http://vanaweb.emta.ee/index.php?id=36313 (2016-02-16)
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