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Ceturtdiena 20.09.2018 | Name days: Marianna, Ginters, Guntra

Estonian tax policy attracts foreign businessmen

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«Estonia has the best laws, good banks, cheap accounting services and less bureaucracy than in, for example, Germany and Lithuania. But the most important thing is that there is no income tax,» points out Euroalliance, a Lithuanian company registered in Estonia, Board Member Nerijus Strumila.

Euroalliance sells scrap metal and trades goods to foreign countries, mostly Germany, US, Lithuania and other EU member states. The company sets an example for foreign businessmen who operate outside Estonia, but decide to register their company in the Baltics due to more favorable tax system, reports Aripaev.

Oil trading company E100 Baltia operating in 23 countries, mainly in Poland, is also registered in Estonia. «Estonia has developed qualitative legal framework contributing to good business environment,» says E100 Baltia Head Belarus businessman Denis Bokhan, the 77th wealthiest man in Estonia. E100 Baltia is the fastest growing enterprise in Estonia.

Tax expert Lasse Lehis says one of the main reasons why foreign businessmen are willing to register their companies in Estonia is that the state does not tax profit unless it is paid in dividends.

«Estonia is definitely no tax paradise,» emphasizes Lehis, adding the Estonian commercial register information is publicly available and foreign tax institutions can get information, in order to check whether their businessmen activities are legal. «Such businessmen shift to Estonia helps to collect state duties and promotes accounting services volumes,» says Lehis.

Estonia’s tax policy is often criticized. Tartu University lecturer of economics Viktor Trasberg is disappointed, «Over the last 10 years Estonia has not been able to collect 50 billion kroons from income tax.»


Leave a reply

  1. @Rita says:

    Good for them.Estonia’s image remains very good almost in all spheres.

  2. Neiland says:

    Interesting, have to register my business in Estonia.

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