Fuel company Neste largest corporate taxpayer in Q4 2018 ({{contentCtrl.commentsTotal}})

Neste Eesti OÜ was Estonia's biggest corporate tax payer in Q4 2018.
Neste Eesti OÜ was Estonia's biggest corporate tax payer in Q4 2018. Source: Martin Dremljuga/ERR

Fuel retailers Neste Eesti AS was the largest corporate taxpayer in Q4 in Estonia, paying close to €33.5 million in taxes, the bulk of which came as state taxes, according to recently released Tax and Customs Board (MTA) data.

Fuel retailers Neste Eesti AS was the largest corporate taxpayer in Q4 in Estonia, paying close to €33.5 million in taxes, the bulk of which came as state taxes, according to recently released Tax and Customs Board (MTA) data.

In general, fuel retailers, together with wholesale companies dominated the top ten, occupying six spots and contributing a total of €164.7 million to state coffers.

Other companies featured the Estonian arm of tobacco giant Philip Morris, telecoms company Telia and supermarket chain Maxima.

On the other hand, the Port of Tallinn (Tallinna Sadam AS) dropped out of the top 10, where it had been in Q3, as did another fuel company, Petroil PVTK OÜ.

The total amount of tax paid by the top ten companies came to €253.6 million, an 8.7% drop on the equivalent sum in Q3.

The full break down is as follows.

 

 Company Name State taxes (€)Labour taxes and contributions (€) Total (€)
NESTE EESTI AS 33,306,638 168,758 33,475,396
OILTANKING TALLINN AS 31,877,221 116,794 31,994,015
AS TARTU TERMINAL 30,419,247 205,605 30,624,852
PHILIP MORRIS EESTI OÜ 29,895,316 69,079 29,964,395
KROODI TERMINAL AS 26,268,951 34,255 26,303,206
ORLEN EESTI OÜ 22,260,360 51,380 22,311,739
SANITEX OÜ 20,179,386 511,577 20,690,963
CIRCLE K EESTI AKTSIASELTS 18,759,411 1,273,654 20,033,065
TELIA EESTI AS 13,994,993 6,037,220 20,032,213
MAXIMA EESTI OÜ 14,516,746 3,702,289 18,219,035

 The data also shows that labour costs make up a very small proportion (less than 1%) of taxation in the case of most fuel companies, particularly Neste, which runs automated filling stations (see pic). Circle K's costs in that respect are much higher. Telia on the other hand has a far higher labour costs bill at close to a third of the total.

Corporate income tax on distributed profits stands at 20% at present, though from 2018 a lower rate of 14% for companies making regular profit distributions has reportedly been available. All undistributed corporate profits are tax-exempt in Estonia. The Estonian tax regime applies to both Estonian resident companies, which must pay tax on worldwide earnings, and permanent establishments (PEs) of non-resident companies registered in Estonia, which must pay tax only on earnings inside Estonia.

Labour taxes and contributions, or social tax, stands at 33%, 20% is social security and 13% health insurance.

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Editor: Andrew Whyte

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