sisendkäibemaks

Sisendkäibemaks, often abbreviated as SKM, is a tax in Estonia that applies to the value of goods and services purchased by businesses. It is a form of Value Added Tax (VAT) and is levied at a standard rate of 20%. The tax is collected by the Estonian Tax and Customs Board and is used to fund the state budget.

The sisendkäibemaks system in Estonia is designed to ensure that businesses pay tax on their purchases, which helps to prevent tax evasion and ensures that the tax burden is fairly distributed. The tax is also used to support the Estonian economy by providing revenue for public services and infrastructure.

Businesses in Estonia are required to register for sisendkäibemaks if their annual turnover exceeds the threshold set by the Estonian Tax and Customs Board. Once registered, businesses must submit regular declarations of their taxable purchases and pay the corresponding sisendkäibemaks to the tax authorities.

The sisendkäibemaks system is an important part of Estonia's tax framework and plays a crucial role in ensuring the financial stability and growth of the country. It is a key component of the Estonian tax system, along with other taxes such as personal income tax, corporate income tax, and property tax.