Tax and Customs Board: €147 million of overpaid income tax to be returned ({{contentCtrl.commentsTotal}})

Euros.
Euros. Source: ERR

€147 million of overpaid income tax can be paid this year by the Estonian Tax and Customs Board preliminary data shows.

Evelyn Liivamagi, head of the tax department of the Tax and Customs Board, told BNS: "Of people who received an income last year, 41 percent or 400,200 people used the basic exemption in the allowed extent, 53 percent or 530,000 people used the basic exemption to a lesser extent than allowed and 6.8 percent or 68,500 people used it to a greater extent than allowed."

She added: "According to preliminary data, people who used less tax-free income than prescribed last year can ask back altogether 147 million euros of overpaid income tax. This is an estimated sum that will be specified after the submission of income tax returns when the authority has also taken into account deductions and income declared by people themselves, like rental income, the sale of real estate or business income."

Liivamagi said that those who used the basic exemption to a greater extent than allowed must pay altogether €13 million more. "However, if there is a possibility of using deductions, such as mortgage interest, training costs, and so on, the amount actually to be paid will be reduced by that amount," she added.

Personal income tax returns can be filed with the Estonian Tax and Customs Board from February 15 and refunding of the tax paid in excess will start on February 26.

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Editor: Helen Wright

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