Financial aspects

Here you can find out about economy and financial matters such as inheritance and taxation

Income tax and statement of annual earnings

STIM does not deduct taxes from the money we distribute.

A statement of annual earnings is published on My Pages in January every year. You will need the statement for your tax return.

Power of attorney

Sometimes, when a music creator signs an agreement with a music publisher, an advance is paid to the creator.

He or she signs a power of attorney, agreeing to authorize all money from STIM and NCB to be paid directly to the music publisher until the advance has been repaid. We at STIM register the power of attorney, and it remains in place until the music publisher in writing terminates the power of attorney to STIM.

Limited power of attorney

Sometimes power of attorney may only apply for particular works. In these cases the music publisher submits a list of titles, along with the signed power of attorney agreement. STIM ensures that the music publisher only receives money for those works, while the rest of the money from STIM goes directly to the creator.

Heirs of music rights and STIM royalties

The heirs of a deceased music creator have the right to collect royalties for 70 years after the year of the death. Read more about how it works when inheriting music rights.