When does an Estonian company attract tax residency in a foreign country? The exemption from corporate income tax, a special characteristic of Estonia, attracts foreign entrepreneurs to register companies in Estonia. Estonian entrepreneurs in turn are acting more and more actively in foreign countries while trying to retain a minimal tax burden. This is why…
The changes to the Income Tax Act came to force on 1st January Several changes of the Income Tax Act (abbreviated ITA) came to force from January 2015. 1Office brings out the most important changes of the Income Tax Act for entrepreneurs operating in Estonia. The basic exemption of a natural person increased by 120…
The taxation of non-Community goods in Sweden changes in the new year. From 1st January 2015 a company liable to pay VAT in Sweden needs to declare and pay VAT on import goods in the Swedish Tax Agency. According to the order in force so far VAT on import goods was declared and paid in…
From the 1st of January 2015 the new VAT order will begin to apply to B2C electronic services providers due to directive 2008/8/EC of the European Commission. The specified services will start to be taxed in the country where the recipient of the service is located. Which electronic services will taxation change for? The changes…
From the 1st of January 2015 the new VAT order will begin to apply to B2C electronic services providers due to directive 2008/8/EC of the European Commission. The specified services will start to be taxed in the country where the recipient of the service is located. Which electronic services will taxation change for? The changes…
Estonian President Toomas Hendrik Ilves blocked on 18th of December 2013 an amendment to the Estonian Value-added tax act – which would require all transactions greater than 1,000 euros to be declared – on the grounds that it is unconstitutional. Opponents of the amendment, including the Estonian Association of SMEs, say it threatens business secrets,…
New minimum gross monthly salary of 320 euros is not yet approved Minimum gross monthly salary is still 290 euros, until the government approves new minimum with its decree. The Estonian Trade Union Confederation and The Estonian Employers’ Confederation signed an agreement on 21st of December 2012, which stated a new minimum gross monthly salary…
The deadline for submitting annual report 2011 is 30th of June 2012 The annual report must be submitted to the Commercial Register within six (6) month after the end of company’s financial year. For the companies who use calendar year as financial year, the deadline is 30th of June 2012. We ask you to contact…
The Finnish government agreed on March 21st to set new tax rates by adopting the central government spending limits for 2014-2017. The corporate income tax rate will be cut from 24.5% to 20%. The new tax rate is planned to become effective as of 1st of January 2014. This reduction will however be paired with…
There will be changes to the Value Added Tax Act on 1st of January 2011. Most significant changes are: 1. Report on intra-Community supply of goods or service has to be presented monthly for the deadline of 20th date of each month. Previously it had to be done quarterly. 2. VAT on purchase of a…