Tax authority reminds Danske customers to change bank account info
The Estonian Tax and Customs Board (MTA) is reminding taxpayers whose personal info on their income tax returns include a Danske Bank account number to update it to an account number at a different bank, as payments are no longer being made to Danske accounts.
"Dear customers who previously held an account in Danske Bank: please check the bank account number listed on your submitted income tax returns," the Tax and Customs Board wrote on social media. "If it still lists a Danske Bank account, we will be unable to refund you your overpaid income tax as those bank accounts have been closed. In this case, we ask you to enter a new bank account number on your income tax returns."
As of Wednesday morning, 585,169 2018 income tax returns had been submitted to the MTA according to which a total of €155.7 million is to be refunded and on which an additional €19.5 million is to be paid.
Taxes owed, refunds to be paid by 1 July
Estonian taxpayers have until 1 April to file their returns. The deadline for both paying additional owed taxes and refunds is 1 July.
The deadline for the payment of additional owed taxes and refunds of overpaid taxes if business income, gains from the transfer of property or income earned in a foreign country is 1 October; the same deadline applies to non-residents who declared deductions in Estonia.
According to MTA figures, 42% of wage-earners used their basic exemption in full, with 52% falling below and 6% exceeding the annual limit.
The limit for basic tax-exempt income last year was €6,000, up from €2,160 in 2017. Beginning with an annual income of €14,400 and ending at €25,200, the size of the basic exemption gradually declines to zero.
Editor: Aili Vahtla
