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  1. FAQ
  2. Withdrawals
  3. Reporting income for Estonian tax residents

Does Xolo Go withhold taxes for Estonian tax residents?

Ultimo aggiornamento: January 03, 2023

Yes, in order to comply with Estonian regulations, Xolo Go fully supports and executes the withholding and reporting of your income taxes for Xolo Go withdrawals. This applies for Estonian tax residents only.

The profit distributions are taxed with income tax, social tax and unemployment insurance taxes. The final tax amount also depends on whether you want us to take into account the tax-free minimum (up to €654 per month) and whether you have joined the Estonian funded pension system (II pillar).

If you have indicated in your profile that you are an Estonian tax resident, then Xolo will reach out to you to go over these details when you submit your first invoice.

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