Personal income tax in Estonia: tax planning in Estonia 2011
Gencs Valters Law Firm held an expatriate tax planning seminar in Tallinn
The annual Tax Planning seminar was held together with Swedish Chamber of Commerce in Estonia with breakfast buffet in Hotel Telegraaf’s Symphony Lounge.
- We all have to pay taxes, the question is only how much and in which country when it comes to expats, said Annika Träss, Lawyer at Gencs Valters Law Firm’s Tallinn office.
The Estonian tax system is simple compared to Sweden’s or many other EU countries’ agreed the seminar participants. However - for foreigners living and working in Estonia is important to know the rules and regulations both in his/her home country as well as here to either avoid a double taxation or even a tax fraud charge just because of ignorance.
Tax havens, in that respect that they are beneficial for tax payer do exist. This might be a reason why Cyprus is the 3rd largest country in terms of Estonian direct investments abroad.
As the Business Breakfast Seminar went on, some daily practicalities as taxation of cars, fringe benefits, gifts, and whether bonuses and discounts given to customers should be taxed were discussed.
The final consensus this Monday morning April 18th, was that Estonia is an attractive country in the EU; you can register a company on the Internet quickly and smoothly and at zero cost, a re-invested profit is not taxed and instead of salary the Board Members and share holders can take out monthly dividends at a favorable total taxation.
For more information, please take a look at Annika's presentation and welcome to contact her at firstname.lastname@example.org .
We would like to thank the Swedish Chamber of Commerce, Hotel Telegraaf and the Business Breakfast participants for yet another great seminar
Please see seminar presentation below
Review from Swedish Chammber of Commerce find here