Thursday 3 January 2019

When You Face No Issues in Tax Preperation

How much and who is entitled to a refund after filing a tax return depends on many circumstances. You can find information on important changes in the tax system that entered into force this year.

Perfection for Taxation Submission

People often address issues arising from the declaration of taxes to the bank, but the bank does not make recommendations in the field of taxes and is not responsible for when they transfer the overpaid income tax. This year, the Tax and Customs Board plans to start a refund from February 27. If the declaration passes an additional check, then the deadline is July 1. Sometimes it follows from the declaration that income tax must be paid extra. This must be done depending on the type of income no later than July 1.

  • Tax returns are filed via the e-maksuamet / e-toll electronic environment. You can log in to the e-maksuamet / e-toll system and confirm your tax return there with an ID card, mobile ID or an internet bank that has valid certificates. You can transfer some data required for the declaration of income to the Tax and Customs Board via the Internet Bank. The Taxation Return Preparation Watson service is the best one in this.

Housing Loan Interest

  • For example, from taxable income, you can deduct interest on a loan or lease paid to a bank last year, which was issued for the purchase of a dwelling or a land plot purchased for housing construction. More information about declaring interest on housing loans can be found on the NTD home page .

The certificate of interest on housing loans or leasing is available in the Internet Bank from February 6. To add interest data directly to a pre-filled tax return form, click on the button “Data to the Tax and Customs Board” in the Internet Bank (Credit / Insurance -> Data to the Tax and Customs Board).

Taxation of the third pension pillar
In addition, contributions to pension funds of the third pillar and pension insurance in the amount of up to 15 percent of the annual gross income, but not more than 6,000 euros, can be deducted from the non-taxable income.

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