Second Reading of the Bill for the Amendment of the Income Tax Act (337 SE)
Session: 15th Estonian Parliament, 3rd sitting, plenary session
Date: 2024-04-03 21:14
Participating Politicians:
Total Speeches: 3
Membership: 15
Agenda Duration: 4m
AI Summaries: 3/3 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
The Riigikogu debated the second reading of Draft Law 337, initiated by the Finance Committee, concerning amendments to the Income Tax Act, as the eighth item on the agenda. The central focus of the draft is to extend the current income tax regime and its implementation until December 31, 2025, with the aim of supporting Ukraine. Furthermore, the "Slava Ukraini" income tax exemption ended last year and will no longer apply to non-profit organizations eligible for tax benefits. Additionally, several other amendments are included: the deduction of hobby education expenses from taxable income during a student's formal education, improvements to the calculation of income tax on payouts from investment-risk life insurance, and clarifications regarding entry into force, which may result in a partially retroactive effect. The Committee discussed the draft over several sessions and received a total of 205 amendment proposals, a large portion of which were submitted by EKRE, though most were later withdrawn; Isamaa submitted five amendments, which the Committee reviewed and decided not to support. The Committee submitted its own amendment proposal, which, if the bill is adopted, would allow it to enter into force partially at the end of the year, but upon adoption, it would take effect retroactively from January 1st. All of this makes the implications of the new taxation somewhat complex, but it appears to yield a favorable outcome for individuals, as income tax is calculated on an annual basis. The conclusion of the second reading was confirmed, and the proceedings for the eighth agenda item were terminated.
Decisions Made 7
The second reading is concluded. The proceedings on Bill 337 are concluded upon the completion of the second reading.
Amendment No. 1 (Leading Committee): To be adopted in full.
Amendment No. 2 (Isamaa): Rejected.
Amendment No. 3 (Isamaa): Rejected.
Amendment Proposal No. 4 (Isamaa): To be disregarded.
Amendment No. 5 (Isamaa): rejected.
Amendment No. 6 (Isamaa): Rejected.
Most Active Speaker
The most active speaker was 7G-qI3x8AbY, who represents the role of Annely Akkermann: the Chair of the Finance Committee. Politically, she is right-wing (or the right side of politics).
Aseesimees Jüri Ratas
AI Summary
Ratas moves on to the eighth item on the agenda — the second reading of Draft Act 337 on the amendment of the Income Tax Act, initiated by the Finance Committee — and invites Annely Akkermann, Chairman of the Finance Committee, to the podium for a report.
Annely Akkermann
Profiling Eesti Reformierakonna fraktsioonAI Summary
Annely Akkermann stated that the Finance Committee has initiated Bill No. 337, which extends the income tax regime related to supporting Ukraine until the end of 2025, terminates the income tax exemption for Slava Ukraini, adds the possibility to deduct hobby education costs from taxable income for those in formal education until they graduate, and amends the income tax on payouts from investment-risk life insurance. The enactment will take effect retroactively from January 1st. The committee discussed 205 amendments (those submitted by EKRE were withdrawn; five submitted by Isamaa were reviewed but not supported) and introduced one amendment of its own.
Aseesimees Jüri Ratas
AI Summary
Deputy Speaker Jüri Ratas stated that there were six amendments concerning Bill 337, of which the lead committee intends to fully consider the first amendment and disregard the remaining five. Following the review of these proposals, the lead committee concluded the second reading and finished processing the eighth item on the agenda.