05.01.2024
From 1 January 2024, Estonia applies a new VAT rate of 22% instead of the current 20%. This is a tax change introduced by the state, which is compulsory for all businesses operating in Estonia. We draw attention to how the new VAT rate will affect bank customers.
If you have signed an e-invoice standing order agreement to pay for various services, it is worth reviewing and, if necessary, increasing the payment limit. To do this, you need to go to the Internet Bank and select ‘Daily Banking’ -> ‘E-invoices’ -> choose the e-invoice of the relevant service from the list -> ‘Order details and modification’. You can also leave the limit field blank if you wish, so that the payment is always made regardless of the amount.
Charges for services plus VAT will increase by the increase in the VAT rate. The change concerns, for example, the management fee for securities and, in the case of leasing, the monthly payment for an operating lease. Our price list can be found on the website.
More information on the VAT rate change can be found on the Estonian Tax and Customs Board website.
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