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  • Maksu- ja Tolliamet
    If the housing loan was not fully used for acquiring a housing If the housing loan was not fully used for intended purposes the taxpayer must enter the percentage of intended use and the appropriate amount of interest in table 9 2 on the housing loan interest of the form A of the income tax return Percentage of the intended use of the housing loan must also be entered if in addition to a loan taken earlier an additional loan was received which is not used for building or reconstruction of the housing on the basis of the building permit or building design documentation Example A borrower has used the earlier loan for intended purposes he bought an apartment as a housing In September he took an additional amount of loan of 6400 euros He used this money for repair works where the building permit or building design documentation was not required For it is not possible to deduct the interest on the part of loan that was taken for repair works the percentage of the loan used for intended use must be calculated Explanation The amount of the remaining loan before receipt of an additional loan is 16 000

    Original URL path: http://vanaweb.emta.ee/index.php?id=29352 (2016-02-16)
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  • Maksu- ja Tolliamet
    she is not 100 owner of the housing If the persons who took the loan are spouses and this is a joint property the payment of interests may be declared on one tax return Example 2 Cohabitants acquire a housing for a loan The borrower is one of them while they both are owners of the housing in the proportion of 50 Explanation The right to deduction of interest payment applies only to the person who is the borrower and only 50 of the interest payment may be deducted The remaining 50 of interest cannot be declared because half of the housing is not the property of the borrower The other person is not the borrower but being a borrower is a precondition for application of tax incentive Example 3 Cohabitants acquire a housing for a loan One person is the owner of the housing while the other person is the borrower Explanation Neither of them has the right of deduction Although one person is the owner of the housing but he or she has not taken the loan in connection with the housing The other person has taken a loan but he or she does not own the housing for acquisition of which the interest payment on loan could be deducted from income Example 4 A married couple has acquired a housing for a joint loan one of the spouses is the borrower the other spouse is the co borrower The housing is their joint property but it is registered on one spouse s name Explanation On the joint tax return of the spouses the interests may be in 100 deducted from income On the tax returns submitted separately both spouses may deduct the interest payment from their income keeping in mind that the total amount of the interest

    Original URL path: http://vanaweb.emta.ee/index.php?id=29359 (2016-02-16)
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  • Maksu- ja Tolliamet
    the case of the loans taken as of 2005 the borrower may deduct the interests from income only when the housing was bought for the person himself or herself For borrowers an opportunity in the internet banks environment will be made to submit data about paid housing loan interest to the Tax and Customs Board Data submitted does not include information for whom the housing was bought For that reason

    Original URL path: http://vanaweb.emta.ee/index.php?id=29361 (2016-02-16)
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  • Maksu- ja Tolliamet
    loan interest Gifts and donations Basic exemption Gifts and donations Certified gifts and donations can be deducted from the income if these are made to the person entered into the list of non profit associations foundations and religious associations benefiting from income tax incentives that shall be approved by a resolution of the Tax and Customs Board If the person who received a gift or donation has communicated this information

    Original URL path: http://vanaweb.emta.ee/index.php?id=29369 (2016-02-16)
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  • Maksu- ja Tolliamet
    in event of pensions Basic exemption Basic exemption in 2015 was 1848 euros The amount of basic exemption need not be entered on the income tax return It will be taken into account automatically For benefiting from basic exemption an income tax return may be submitted for example in the cases when a person was not engaged in employment the whole calendar year Submission of income tax return is also

    Original URL path: http://vanaweb.emta.ee/index.php?id=29371 (2016-02-16)
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  • Maksu- ja Tolliamet
    increased basic exemption of 1848 euros a year for each child of up to 17 years of age starting from the second child Only children of up to 17 years of age should be entered on the tax return The eldest children who may be entered on the tax return have attained 17 years of age in 2015 Children born after 1 January 2016 may not be entered on the income tax return concerning the year 2015 As tax incentives on a child may be declared by one parent or guardian only the parents or guardians should come to an agreement beforehand who would be the person to declare the information on a child In case of disputes the tax incentives will be applicable to the person who receives the child allowance under the State Family Benefits Act If the recipient of the child allowance does not wish to use the tax incentives he or she must delete the names of children entered on the pre completed tax return If a child has received income e g earned some money for working in summer the parent must enter the child s income in the table of increased basic exemption in

    Original URL path: http://vanaweb.emta.ee/index.php?id=29373 (2016-02-16)
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  • Maksu- ja Tolliamet
    220 to 374 euros and the pensioner has an application on tax exemption submitted to the Pension Board requesting to calculate the increased basic exemption of 154 euros a month in such case the income tax return need not be submitted In other cases we recommend to submit an income tax return Example Both spouses are pensioners One of the spouses receives pension 224 euros and the other 415 euros a month If both spouses submit separate income tax returns one pensioner s total annual pension will be 2688 euros and instead of the allowed basic exemption 2640 1848 4488 euros he or she may deduct only 2688 euros because he or she has no more pension wherefrom to make the deductions The other spouse s pension is subject to taxation because his or her annual amount of pension is 4980 euros but it was possible to deduct only 4488 euros Consequently from the amount of 492 euros the income tax was charged as follows 492 x 20 98 40 euros Tax liability is not applied by submission of a joint income tax return because the total amount of the pensions of both spouses is 7688 euros wherefrom it is

    Original URL path: http://vanaweb.emta.ee/index.php?id=29375 (2016-02-16)
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  • Maksu- ja Tolliamet
    activities incl creative or scientific activity Income derived from business is declared on form E Form E is submitted together with the form A of the income tax return of a natural person by 31 March of the calendar year following the period of taxation calendar year Sole proprietors are required to submit an income tax return even if they did not receive any business income at all or if the income was smaller than the basic exemption Both form A and form E may be submitted either through the e Tax Board e Customs or on paper Submission of income tax return through the e Tax Board e Customs is possible from 15 February Form E is not pre completed Income tax return on business income form E must also be submitted by the persons who were not entered in the commercial register but who were engaged in business and have derived business income during a year Business expenses and business income are taken into account in the year when the income was received or the expenses were made For example A sole proprietor has delivered goods to a purchaser and in October the sole proprietor submitted an invoice in the amount of 500 euros The sole proprietor received money for delivered goods next year in January The amount of 500 euros is deemed to be the sole proprietor s income of the next year and it is not taken into account by declaration of income in the current year If an enterprise is transferred to a person who continues the activities of a sole proprietor the transferor shall submit an annex to Form E together with Form A and Form E by 31 March of the year following the period of taxation Income tax return form E must

    Original URL path: http://vanaweb.emta.ee/index.php?id=29293 (2016-02-16)
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