As of 1 January 2024, Estonia will apply a new VAT rate of 22% instead of 20%. This is a state-imposed change in the tax system, and is compulsory for all businesses operating in Estonia. More information about the VAT change can be found on the website of the Estonian Tax and Customs Board.
As a result, from 1 January 2024, all the prices subjected to VAT in Finbite price list will also increase by 2%. The first invoices for services and goods with the new VAT rate will be issued to customers and partners during February 2024.
In order to ensure that all Finbite users are able to issue invoices with the new VAT rate starting from 2024, we kindly ask you to review the settings related to VAT codes. A comprehensive guide on VAT settings can be found in our customer support environment.
We also recommend that anyone, who has a standing order for e-invoices with their bank, to check it and, if necessary, increase the payment limits.
