Budget, Estonia, Financial Services, Legislation, Taxation

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 22:10

Estonia’s FinMin: tax burden in 2015 will make 32.7%

BC, Tallinn, 24.09.2014.Print version
Estonian Finance Minister Jürgen Ligi said that the total tax burden in Estonia in 2015 will be 32.7%, a decrease on account of labour taxes and investments, LETA/Delfi reports.

"The tax burden is being redistributed," said Ligi at the government's news conference dedicated to the fact that the government on Tuesday approved of the 2015 draft state budget. The additional money will come to the budget from the reduction of unreported wages, that the state hopes to achieve thanks to the workforce registry that was launched in summer and from tax evaders by imposing a VAT declaration supplement.

 

While the income the tax rate will fall from 21% to 20%, the unemployment insurance tax rate will in the next four years be 2.4%, of which employees pay 1.6% and employers 0.8%.

 

State dues increase a little, according to the minister, due to rounding the euro sums that were the result of recalculating dues in kroons.

 

The Estonian government approved of the draft state budget for the next year on Tuesday, with planned revenues of 8.45 billion and planned spending of 8.54 billion euros. Compared to this year, revenue grows by 7% and spending by 6%.






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