Forestry sales revenue is capital income and tax is paid according to the capital income tax rate. The tax rate on capital income is 30% and capital income exceeding EUR 30,000 is taxed at 34% (in 2019 and 2020).
Tax filing deadlines 2020
The forest tax return must be submitted on March 2, 2020. The date can also be later in the spring, e.g. agricultural forest owners. Check your own date from the material sent by the taxpayer. The VAT return must be submitted and the VAT must have been paid on 2.3.2020.
Tax returns can be submitted electronically and pay value added taxes. Notifications must reach the taxpayer on the last day for submission. Please note this if you are sending notices by mail.
Keep notes for 6 years
Records must be kept of forestry income and expenditure, which must be kept for six years from the end of the tax year. Notes and vouchers are not sent to the taxpayer in connection with tax returns. However, the tax authorities may request notes and annexes for inspection during the next six years.
It is worth making a forest tax return even if you do not have income
It is always a good idea to record expenses, even if there is no income in a calendar year. There is nothing taxable in forestry if the forestry income has not accrued in the tax year. However, there may be a refund. It is advisable to report all forestry expenses as deductions, for example the membership fee of the forest management association. Deductions are taken into account by the taxpayer and thus reduce the tax on other capital gains and earned income.
Tips for filing a tax return
Our expert tells in the video tips for filing a forest tax return.
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Book an appointment with the forest tax filling service
The experts of the Forestry Association can fill in the forest tax return and the VAT return according to your own notes and forestry documents. Order an appointment with the forest tax service using the form on this website or from your own forest expert. For the tax return estimate this is important.
As a home investor, you must declare rental income as well as rental expenses for tax purposes yourself, as they will not be completed on your tax return from the tax card or on the basis of withholding taxes. The information on condominiums is reported to the tax administration on form 7H and the information on real estate on form 7K, but the tax return can be filled in more conveniently online, for example with the help of online banking IDs.Landlord taxation, and especially filing a tax return, can sometimes seem awkward, so we listed eight important considerations for your tax return to help you.