- Standard VAT rate in Estonia will increase from 20% to 22% in 2024
- VAT rate for press publications will increase from 5% to 9% in 2025
- Changes aim to increase budget revenues and meet the country’s defense spending goal
- Majority of increased tax revenues will go to the central budget, while 12% of income tax will be allocated to local authorities
- People are concerned about the impact of these changes on the economy and daily life
- Various articles on related topics are available for further reading
- Changes in VAT rates and tax system in Estonia have significant implications
- Standard VAT rate will increase to 22% in 2024
- Additional tax exemptions for children and spouses will be abolished
- Deductions for housing interest will be eliminated
- Tax on table gambling will increase by approximately 10% in 2024
- Excise tax on alcohol and tobacco products will increase by 5% annually starting from 2024
- Lower VAT rates can still be applied for transactions made before May 1, 2023, if the contract specified a 20% VAT rate
- Cash accounting method allows for VAT declaration and payment at the 20% rate for transactions from 2023, regardless of payment date in 2024.
Source: eurofiscalis.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
