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Business income

Receipt of tax | Chapter 2 DEFINITIONS USED IN ACT | Low tax rate territory | Income on financial assets | Investment account | Supplementary funded pension | Taxation of income of legal persons located in low tax rate territories | Training expenses | Mandatory social security contributions | Non-resident's taxable income |


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(1) Income tax is charged on income derived from business (business income), regardless of the time of its receipt.

(2) Business is a person's independent economic or professional activity (including the professional activity of a notary, a bailiff or, in the case specified in subsection 9 (3) of the Sworn Translators Act, a sworn translator and the creative activity of a freelance creative person), the aim of which is to derive income from the production, sale or intermediation of goods, the provision of services, or other activities, including creative or scientific activity.

(3) Transfer of securities owned by a natural person does not constitute business.

(4) Types of income specified in § 16 may also be included in business income.

(5) Sole proprietors entered in the commercial register may make the deductions allowed under Chapter 6 from their business income. Expenses incurred before registration of a sole proprietor may be deducted from business income if they are related to the registration of the sole proprietor or obtaining of activity licences and registrations necessary for commencement of business activities.
[RT I 2008, 60, 331 - entry into force 01.01.2009]

(51) [Repealed - RT I 2006, 28, 208 - entry into force 01.01.2007]

(52) [Repealed - RT I 2006, 28, 208 - entry into force 01.01.2007]

(53) Deductions relating to enterprise shall be made from the business income of the period of taxation of a sole proprietor and the received amount shall be divided by 1.33 before it is multiplied by the tax rate.
[RT I 2006, 28, 208 - entry into force 01.01.2007]

(54) If the amount received by multiplying the amount calculated pursuant to subsection (53) and the factor 0.33 is less than the amount of social tax calculated pursuant to subsections 2 (5), (6) and (8) of the Social Tax Act, then such amount shall not be divided in the manner specified in subsection (53) and income tax shall be calculated from business income after deductions relating to enterprise which has been reduced by the social tax calculated pursuant to subsections 2 (5), (6) and (8) of the Social Tax Act. If the amount of social tax to be paid is higher than business income after deductions relating to enterprise, the amount of tax shall not be carried forward to subsequent periods of taxation pursuant to § 35 of this Act.
[RT I 2006, 28, 208 - entry into force 01.01.2007]

(55) If the amount received by multiplying the amount calculated pursuant to subsection (53) and the factor 0.33 is more than the amount of social tax calculated pursuant to clause 2 (1) 5) of the Social Tax Act, then such amount shall not be divided in the manner specified in subsection (53) and income tax shall be calculated from business income from which deductions relating to enterprise have been made and which has been reduced by the social tax calculated pursuant to clause 2 (1) 5) of the Social Tax Act.
[RT I 2006, 28, 208 - entry into force 01.01.2007]

(6) The provisions of this Act concerning sole proprietors entered in the commercial register also apply to notaries and bailiffs and to sworn translators, except in the case specified in subsection 9 (4) of the Sworn Translators Act.
[RT I 2008, 60, 331 - entry into force 01.01.2009]

(7) If the price of a transaction concluded between a sole proprietor and a person associated with the sole proprietor in the course of business differs from the market value of the above transaction, income tax shall be imposed on the amount which the taxpayer would have received as income or the amount which the taxpayer would not have incurred as expenses if the transfer price had conformed to the market value.
[RT I, 18.11.2010, 1 - entry into force 01.01.2011]

(8) The methods for determining the market value of transactions specified in subsection (7) shall be established by a regulation of the Minister of Finance.
[RT I, 18.11.2010, 1 - entry into force 01.01.2011]

(9) Subsection (7) shall not apply to difference between the transfer price and the market value of transaction if a sole proprietor has paid income tax on the difference or income tax has been withheld from the difference pursuant to § 41. Subsection (7) shall also not apply in the case provided for in subsection 37 (7).
[RT I, 18.11.2010, 1 - entry into force 01.01.2011]

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