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Estonian CompaniesOn 1 January 2000 there was adopted in Estonia the new Income Tax Act, under which tax is levied not on the income earned but on the income distributed (as dividend or payment to founders) at the rate 26%. Tax rate on distributed income was steadily lowered and in 2007 it was 22%. From 01 January 2008 the tax rate has been 21%. Thanks to that Act the moment of taxation is removed by time from the moment the income is earned to the moment of its distribution. Additionally there were introduced the clauses of foreign participation, allowing to lower the tax on distributed income by the amount of income tax paid abroad, when dividends are returned by the Estonian parent companies. Neither is tax levied on the capital gains of the non-resident companies from sale of participatory interests (ownership shares) in closed companies with limited liability. The new legislation provides an opportunity to include the Estonian companies into the international holding and trading structures due to effective system of double-taxation treaties, made by Estonia with countries like Finland, Denmark, Norway, Sweden, Lithuania, Latvia, Poland, Great Britain, Ukraine, Germany, Belorussia, Moldova etc. |
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| BMS Corporate Concept OÜ Katusepapi 6-201, 11412 Tallinn, Estonia|Phone: +372 660 6915|Fax: +372 660 6914|E-mail: info@bmscc.ee |skype: bmscc.ee |