Example: how a tax refund is used on an inheritance tax
In this example, an individual taxpayer must pay an inheritance tax that falls due on 1 July, and the taxpayer’s tax-refund date is 3 August.
The following is an illustration of what happens when he or she pays the tax on its due date 1 July, and at the same time, the Tax Administration is using the refund on the tax.
- 1
The end date of your income tax assessment is in June
In this example, your tax decision indicates that you will receive €1,000 as a refund, and the date when the refund will arrive is 3 August.
- 2
The due date of the inheritance tax is 1 July
Let us assume that the amount is €600. It falls due for payment on 1 July.
You can see the inheritance tax amount and due dates in your tax decision.
- 3
On 1 July, part of your refund is used on the inheritance tax
The Tax Administration uses part of your refund on the inheritance tax on 1 July although you made a payment on the due date.
The inheritance tax (€600) falling due on 1 July is fully settled by the tax refund. After that, €400 remain. This amount is transferred to your bank account on your tax refund date, i.e. on 3 August.
- 4
Your payment will be used on the next instalment of inheritance tax
However, if your inheritance tax consists of only one instalment, the Tax Administration will send the payment back to you in a week.
- 5
You will find a summary of your payment status in MyTax in August. The summary shows how your refund was used.
In addition, a paper summary will be sent to you by letter if you have not enabled Suomi.fi Messages.
- 6
You receive your refund on 3 August
After the Tax Administration used part of the refund on your inheritance tax on 1 July, the amount that remains is €400. You receive it in your bank account on 3 August.