Estonia, Financial Services, Legislation, Taxation
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Riigikogu suspended income tax reform for a year
Juhan Tere, BC, Tallinn, 20.11.2008.
Print version
Print versionRiigikogu suspended the income tax reform for a year and amended the Value Added Tax Act and the State Fees Act in order to find more revenue in next year’s State budget, writes EPL Online/LETA.
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According to a compromise achieved in the coalition, the Reform Party gave up lowering the income tax rate next year and Social Democrats gave up increasing the minimum pay exempt from income tax.
At the same time, temporarily the option of additional income tax exemptions for raising a child for the year 2009 will be abolished as well – this was an elections promise of the Pro Patria and Res Publica Union.
Eiki Nestor from the Social Democrats’ faction considered it likely that VAT rates will not be changed before the adoption of the 2010 State budget, but the income tax reform might be postponed for yet another year.
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