From today until April 30, you can submit an income declaration in the e-environment of the Tax and Customs Board. Overpaid income tax will be refunded from March 5.
When submitting an income declaration, it is allowed to deduct general tax-free income, housing loan interest, training costs, donations and contributions to a supplementary accumulated pension from a person’s total income.
The amount of tax-free income depends on the person’s income. For those who are not yet of retirement age and whose annual income is up to 14,400 euros, the tax-free income of 7,848 euros per year applies. If the annual income is between 14,400 and 25,200 euros, calculating the tax-free income is more difficult, because the tax-free income is reduced according to the formula 7848 – 7848 ÷ 10,800 × (sum of income – 14 400). If the annual income exceeds 25,200 euros, there is no tax-free income.
This year is the last year when private individuals can also deduct their housing loan interest from their taxable income – up to 300 euros per person. The income tax refund is 20 percent of it, or up to 60 euros. The basic condition for deducting housing loan interest is that the housing purchased with the loan has been used as one’s own housing during the calendar year.
Income tax must be paid on income earned from real estate. When selling real estate, there is no need to pay income tax if you sell your home, it can be done without income tax every two years. Income tax is also exempted from property that has been illegally expropriated and returned, and the sale of property obtained through privatization with preemption. Income tax does not have to be paid on the sale of such a garden house or cottage, the property of which is not larger than 2500 m2 and which has been owned by the seller for at least two years.
Important days of the month
February 15 – submission of income tax returns in the e-services environment begins, service offices start issuing pre-filled income tax returns on paper;
March 5 – the return of income tax to customers who submitted a declaration in e-MTA begins;
March 18 – the return of income tax to customers who submitted a declaration in paper form begins;
April 30 – the deadline for submitting the income tax return;
October 1 – deadline for payment of additional income tax and return of overpaid income tax.
2024-02-15 06:55:49
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