The minimum monthly fee for Grow Finance's accounting service is 99 euros per month plus VAT. Click for more information about service packages here.

All questions can be sent by e-mail to paring@grow.eeWe will respond to you as soon as possible, usually within 24 hours on weekdays. If you wish, you can fill out a more detailed request. here.

Yes, Grow Finance offers tax advice, the advice fee is for domestic issues in Estonia. 150€/h and international issues 175€/hour. Prices include VAT. Minimum fee is 1 hour. You can submit a request for a consultation from here.

Raamatupidamisteenus on paberivaba. See tähendab, et kõik raamatupidamisdokumendid saab esitada e-arvetena, pdf-arvetena või pildifailidena. Grow Finance kasutab kõigi ostuarvete, kviitungite ja kuluaruannete haldamiseks kaasaegseid digilahendusi. 

Jah, see on võimalik, kuid omate teadmisi raamatupidamisest ja Eesti seadusandlusest. Grow Finance soovitab tungivalt lasta raamatupidamise ja maksuaruandluse teha kogenud raamatupidajatel, et saaksite täielikult keskenduda oma äritegevusele.

Jah, soovi korral on võimalik kogu raamatupidamisele saada ligipääs kaugelt. Teenuse tellimiseks ja koostööks ei ole otseselt vaja kohtuda, kuigi me eelistame tihedama koostöö puhul kindlasti ka füüsilist kohtumist. 

In Estonia, the mandatory turnover for VAT registration is 40,000 euros from the beginning of the calendar year (excluding sales of fixed assets), which only applies to turnover sold to customers in Estonia and the European Union. If your company's annual taxable turnover is less than 40,000 euros or your customers are located outside the EU, you are not required to register for VAT and you do not have to calculate or pay VAT for services provided in Estonia that would otherwise be taxable.

Voluntary registration before reaching the registration threshold is also possible. In this case, a corresponding application must be submitted to the Estonian Tax and Customs Board.

There is no registration obligation if the company's entire turnover is tax-exempt or you only export goods from the EU to third countries.

However, the registration obligation may also arise in connection with acquisitions from a foreign country: if goods are purchased in an amount exceeding 10,000 euros or so-called intangible services are received.

Detailed information about VAT can be found on the Estonian Tax and Customs Board website or contact us. with a tax advisor.

Kui müüakse kaupu, deklareeritakse käibemaks Eestis ainult juhul, kui kaubad saadetakse välja Eestist. Juhul, kui teie kaubad ei asu kunagi Eestis, toimub ost/müük mujal ja tehing ei kuulu Eestis käibemaksuga maksustamisele. Näiteks, kui Eesti ettevõte saadab kaupu Hispaaniast Saksamaale, siis müügikäive ei teki Eesti käibemaksureeglite alusel Eestis, vaid Saksamaal. Kaupadega kauplemisel peate registreerima käibemaksu riigis, kus teie kaubad füüsiliselt asuvad.

If an Estonian company sells goods or provides services to a private individual in another EU member state in an amount exceeding 10,000 euros per year throughout the EU, VAT must be paid according to that country's rate. There are two options for this:
– The seller registers as a VAT payer in that other country and also pays VAT there
– The seller registers as an OSS special scheme user in Estonia. This allows him to declare all sales made to EU private individuals in a single declaration to the Estonian Tax and Customs Board, which forwards the VAT paid to the relevant countries.

The entire process is described on the Estonian Tax and Customs Board website "Registration as a VAT payer". To begin with, you must submit an application for VAT registration online. If the applicant is not a member of the company's board, then permission must be obtained from a board member to "Submit applications for VAT registration (KMKR)". This also applies if you want your accountant to do this for you.

Teie koostööpartnerina saame ise kõik vajalikud tegevused tehtud.

If the VAT calculated on the VAT return submitted to the Estonian Tax and Customs Board is lower than the VAT paid on the purchase of goods and services, the overpaid VAT will be refunded to the company. When the tax deadline arrives, the VAT will automatically offset the company's financial obligations with its advance payments based on the declaration. To receive the overpaid amount into its bank account, the company submits a refund application to the VAT in the electronic environment. The VAT may ask the company for additional evidence to refund the tax amount. The refund will be made within 60 days.

Jah, Grow Finance saab koostada ja esitada kohustuslikke maksudeklaratsioone  ettevõtetele, kes on sõlminud meiega koostöölepingu. 

A VAT taxable person must submit a VAT return every month. If there is no turnover or no reverse chargeable acquisitions in the reporting month, a nil return is submitted. An entrepreneur with employees must submit a monthly declaration of income tax, social tax, unemployment insurance contributions and compulsory funded pension contributions (form TSD).

If the company has no contracted employees, the TSD form only needs to be submitted for months in which profits have been distributed as dividends or other distributions have been made, special benefits have been granted to employees or expenses have been incurred that are not directly related to the company's business (gifts, fines, etc.).

The company is obliged to submit its annual report to the Business Register within 6 months after the end of the financial year.

General residency, or citizenship, applies to natural persons and is determined by a person's passport, while tax residency is determined by the tax laws of different countries. In simple terms, tax residence is the place where a person pays their taxes. A natural person is considered to be resident if he or she stays in the country for at least 183 days in any period of 12 consecutive calendar months. From a company's perspective, tax residence is basically in the country where it is established.

Maksuresidentsus ega e-residentsus ei ole kodakondsus.

It is important to know which country you are resident in to pay taxes in that country. If you live and work in Estonia, you are resident here. There are two ways of paying salaries to board members: first, to register you as an employee with an employment contract, which requires you to pay the minimum wage in Estonia. This does not preclude you from receiving dividends or directors' fees. The second option is to have a contract as a member of the board of directors, which does not have a formal minimum wage or unemployment insurance contributions, which means that there is no unemployment insurance coverage. Dividends cannot be a substitute for formal wages as they are not subject to labour taxes.

1. Esimesena on võimalus registreerida teid töölepinguga töötajana. Sel juhul on Eestis vaja maksta miinimumpalka. See ei välista dividendide või juhatuse liikme tasude saamist. Sellisel juhul tuleb maksta, kui töötaja töötab Eestis. Rakenduvad maksud on 20% tulumaks, 33% sotsiaalmaks, 1,6% + 0,8% töötuskindlustusmaks ja 2% kohustusliku kogumispensioni makse.
2. The second option is a board member contract. In this case, there is no official minimum wage, no unemployment insurance contribution and therefore no protection against unemployment. A board member can only get Estonian social security if the salary is at least the official minimum wage set in Estonia and it is paid here (Estonian tax residence). It is important to understand that dividends cannot be used as a substitute for the official salary, as dividends are not subject to labour taxes.

If persons employed by an Estonian company under an employment contract are not Estonian residents and live and work abroad, no taxes are declared or paid on their wages in Estonia. Taxation takes place in the country where the work is performed. Remuneration received by a member of the management board who lives and works abroad is taxed in Estonia. If the person submits an A1 certificate, social tax is paid in the country that issued the certificate. There may be a tax risk in Estonia in relation to the remuneration received under the contract of the board member.

Enne dividendide maksmist peab olema sissemakstud ja Eesti Äriregistris registreeritud põhikirja järgne osakapital. Dividendid maksustatakse tulumaksuga 20%. Neljandal aastal pärast dividendide maksmise alustamist on saadaval ka madalam 14% määr. Madalama 14/86 maksumääraga dividendide summa põhineb eelneva kolme aasta keskmisel maksustatud dividendil ja omakapitali jaotusel. Kui madalama määraga dividende jaotatakse eraisikule, rakendub lisaks 7% tulumaksu.

Also, dividends can only be paid on the basis of retained earnings (profit for the previous year), based on the annual accounts for the previous year. Dividends cannot be paid out of the current year's profits.

Dividendide maksuaruandlus esitatakse koos palga- ja sotsiaalmaksudeklaratsiooniga järgneva kuu 10. kuupäevaks pärast väljamakse sooritamist. Tähtaeg on ka tulumaksu maksmise tähtaeg.

Before paying any dividends, share capital must be paid in and registered with the Estonian Business Register. Dividends are taxed with 22% of Income Tax (calculated on net amount: 22/78).

Also, dividends can only be paid from retained earnings (previous year’s profits) based on the Annual Report submitted for the previous year. It is not allowed to pay dividends on current year’s profits.

Tax reporting for dividends is submitted with wages and social tax declaration for the 10th date of the following month after the payment. The due date is also the term for the income tax payment.

The minimum share capital for an OÜ is €0.01 per shareholder. You can choose to contribute more for credibility or investor confidence.

Firstly, you need to make a payment from your personal account to the company's bank account with a credit or payment institution in the EEA (European Economic Area) with description "Share capital contribution". Founders confirm the capital payment digitally in the Estonian Business Register. A bank notice is required for monetary contributions over €50,000.

Secondly, an application to the Estonian Business Register needs to be submitted digitally to change the company's details.

Thirdly, an application to the Estonian Business Register to change statutes (includes shareholder's decision) needs to be submitted.

Grow Finance can process the second and third step for you for service fee of €100 plus VAT.

Estonian Commercial Code Act § 159 and 281 set out that Private Limited Companies and Limited Companies are not allowed to lend money to their shareholders whose share is bigger than 5% of share capital in Private Limited Company or bigger than 1% in Limited Company. Similar restriction for loan applies to company's parent company's shareholder or other members. Also, it is not allowed to give a loan to a company's member of the board or procurator.

There is exception where subsidiary is allowed to give loan to parent company or parent company’s shareholder or board member if this does not damage financial position of the company or interests of the creditor.

Labor taxes on salaries are paid in the country where the work is performed.

The income tax on board members' fees is paid to the country where the company is registered, while other labor taxes are paid to the country where the person's social insurance is held (usually this is the person's country of residence, and it is the same across all EU countries).

If the person moves to Estonia, labor taxes (income tax and social security contributions) are paid in Estonia.

In Estonia, companies do not pay corporate income tax on annual profits. Tax is only charged when profits are distributed, for example as dividends.

Profits that are reinvested in the business remain exempt from tax.

Corporate income tax also applies to certain expenses that are not related to business activities, such as fringe benefits, gifts, donations, and transfer pricing adjustments.

Because profits are not taxed annually, companies do not need to file an annual corporate tax return. Instead, income tax is calculated and declared monthly, but only if there is a taxable distribution.

If your business activities in Estonia are significant and ongoing, you may create a Permanent Establishment (PE) under Estonian tax law. A PE is generally a fixed place of business (such as an office, branch, or construction site) or a situation where a person in Estonia regularly concludes contracts on behalf of your company.

Once a PE exists, it is treated as a taxpayer in Estonia. This means:

The PE must register with the Estonian Tax and Customs Board.

It must keep separate accounting records and prepare financial statements for its Estonian operations.

Income tax is charged on profits or assets transferred from the PE to the foreign head office, as well as on non-business expenses (eg, fringe benefits, gifts).

If profits remain reinvested in the PE, no income tax is due.

Tax returns (Form TSD) are filed monthly, but only when taxable transfers occur.

Double taxation occurs when two countries tax the same income. To prevent this, Estonia has signed Double Taxation Agreements (DTAs) with over 60 countries. These treaties:

Allocate taxing rights between Estonia and the other country (eg, which country can tax dividends, interest, royalties, or business profits).

Provide relief methods, such as tax exemptions or credits, so you don't pay tax twice on the same income.

Include rules for resolving dual residency and mechanisms for dispute resolution.

To benefit from a DTA, you must usually provide a certificate of tax residency from your home country to the Estonian Tax and Customs Board.