The acquisition cost of a security is comprised of all of the expenses incurred and documentarily certified in the acquisition of that security. Be prepared to submit additional evidence at the request of the Tax and Customs Board. When exchanging — the difference in market price between the acquisition cost of the security that was exchanged and the market price of the security that was received in exchange.
Information is available from our customer support by calling or e-mailing finance lhv. Customer support operates Mon—Fri 9— General information 1. Declaration of personal investment income in Estonia Sincetwo parallel systems have existed in Estonia for the taxation of personal investment income: the so-called ordinary system, according to which all transactions involving the sale of securities must Hind Action Trading System AFL declared, and the investment account system, according to which only the contributions to and disbursements from the account must be declared.
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Securities income may also be declared according to both systems. The ordinary system provides for the declaring of all securities transactions performed in the previous year. The income tax obligation arises once you have earned a profit as the end result of all sales transactions. However, if you have incurred a loss during the year, you can carry that forward to the following year. Service fees may be deducted from realised revenue under the ordinary system, but management fees may not be deducted.
Transactions must be entered in the income tax return by hand see How is income declared in the ordinary system? It is there that we have consolidated all of the information known to LHV Pank regarding the gain or loss on the transfer of your Estonian and foreign securities, interest income from securities and foreign-sourced dividends.
Declare these to the Tax and Customs Board using tables 5. When using the investment account system it is not the securities transactions that must be declared; instead, the contributions to and disbursements from the bank account marked as the investment account must be declared.
An individual may have multiple investment accounts at several different banks simultaneously. A tax liability only arises if the amount by which the disbursements made from all of the investment accounts exceeds the balance of the contributions made to all of the investment accounts.
The main differences between the ordinary system and the investment account system are Kiss Binary Options Trading System in the following table. Ordinary system Selection of assets to be declared Broader selection Only financial assets The following must be declared sales transactions involving securities performed using overall income, as well as dividend and interest income.
Read more about investing as an enterprise. General information 2.
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Sales transactions and dividends under the ordinary system If you have received dividends in your Growth Account during the year, you will have to report these in Table 8. If you have also made some sales transactions in your Growth Account during the year, any disposal of fund units must be entered in Table 8.
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Declaration of dividends in the investment account system The first step is to inform the Tax Board that you are using your Growth Account in the investment account system. To do so, information regarding the bank account being used as the Growth Account must be entered in part I of Table 6. Only cash contributions and disbursements will be subject to reporting. The forwarded information should be visible in part II of Table 6.
General information 3. Taxation of deposit interest Income tax shall only be paid on deposit interest by those private individuals who are Estonian tax residents and who have not informed LHV Pank that their account, in which the interest is received, is an investment account.
Select the account and save the Hind Action Trading System AFL. Later, you should also declare this account on your Tax and Customs Board income tax return as an investment account. An Estonian tax resident is a person whose permanent residence is in Estonia or who has stayed in Estonia for at least days in a year.
You do not have to declare or pay the interest yourself. The bank shall withhold income tax and declare and pay it on your behalf.
The data of the interest earned on bank deposits will be automatically shown on your pre-populated income tax return starting from A client, whose deposit interest is subject to income tax, will from now on see two entries in their account statement: interest and income tax payment. Calculation of income tax follows the traditional rounding-off rules.
General information 4. How to declare payments received from share capital reductions of Estonian companies?
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If, during the year, you have received payments on the ScotiaBanki aktsiate tehingud of your Estonian companies, made at the expense of the reduction of share capital, this data will appear automatically as pre-filled in Table 7.
Ordinary system Taxable income Hind Action Trading System AFL the difference between the payments declared in column 4 of Table 6. The amount of capital share reduction taxable at the personal level will automatically appear in column 4 of Table 6. At the same time, it should be borne in mind that the acquisition cost, which has already been deducted on one occasion, cannot be taken into account for the second time.
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It means that after the share capital has been paid out, the acquisition cost of your shares will be reduced by the amount indicated in column 3 of Table 6. When you start selling your shares, you have to take it into account and correct the acquisition cost shown in LHV's tax report before submitting your income tax return, as changes in the acquisition cost due to the reduction of share capital are not reflected in LHV's system automatically.
In addition, make sure to delete the pre-filled data from Table 6. If part of the payment has been taxed at the corporate level, you can declare this portion of the share capital distribution as an investment account contribution in Part II of Table 6.
The amount of share capital distribution on which income tax has been withheld at the corporate level is automatically pre-filled in Table 7.
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Completion of the income tax return in the ordinary system In the LHV internet bank you will find your tax report, which consolidates all of the information in your LHV bank accounts regarding gains or losses from the transfer of Estonian and foreign securities, interest income from securities and dividends from abroad.
Transactions performed with the trading platform LHV Broker are not reflected in the tax report.
Information from the tax report can be used to complete your income tax return. If you are declaring securities income in both the ordinary system as well as the investment account system, remove the investment account entries from the LHV tax report. If you have received securities related income from somewhere other than LHV investment services for example, crowdfunding platformsthen this data must be added to your income tax return by hand.
Declaration via the ordinary system 2. How is income declared in the ordinary system?