Are Ukrainians in Europe informed about potential tax refunds available to them?

In most European countries and USA, residents are filling annual income declarations, which leads to a very possible tax refund. RT Tax discovered the lack of information Ukrainians have about filing income declarations as it’s not something they do back home. Company established a special department with the main purpose to spread the word to Ukrainian people in their own language.

So what is yearly income declaration? Annual income declaration sums up how much employee earned and paid in taxes that year. It’s usually legally obligated to fill by the local government, but it can also benefit one financially. How?

Basically taxes are prepaid by the employers as part of your salary and its general for all employees. Employer transfers those prepayments to local tax office each month in your name. But there are a lot of factors that can reduce ones taxes and those factors differs in each country. When filling income declaration, all possible tax deductions can be used to reduce tax amount.

What to expect? In approximately 9 out of 10 cases, the employer ends up deducting more taxes to the government than the employee essentially owes. Income declaration forms the basis to recover overpaid taxes. How much can you get back? It depends, the average refund amounts from popular relocation countries are Germany -1072 euros, Netherlands – 975 euros, Great Britain – 1017 pounds, Ireland – 1096 euros, Austria – 904 euros, Norway – 5822 krone. To get the exact amount you can use free online tax refund calculator. 

Filing an income declaration not only opens the door to tax refunds but also allows Ukrainians to access additional benefits from the local government. One of such benefits is child money, in Germany it’s up to 250 euros for each eligible child, in Netherlands 270 euros for small children and up to 385 euros for older ones, in Norway its 970 kroners per month.

How to file the income declaration? If you have a good knowledge of the local language you can try do it yourself or you can use the services of tax experts. Using tax expert service is faster, easier and more effective and most importantly risk free. RT Tax operates on success fee basis, meaning that customers only pay for services when the refund is received, no prepayment needed.

You can register for a tax refund with company RT Tax, that has more than 20 years of experience in the market and provide services and free support in Ukrainian.