Starting January 1, 2025, the income tax rate in Estonia will increase, directly impacting employees' December paychecks. Employees will receive less net salary than usual. Employers must account for this change to avoid surprises and maintain employee motivation.
Loan from the Owner to the Company: Secrets, Pitfalls, and Restrictions
Conducting business in Estonia opens numerous opportunities for company owners to finance their companies. One such opportunity is issuing a loan to their own company. However, it is essential to remember that the loan process is regulated by law and has its own specificities. In this article, we will explore how an owner can issue a loan to their company and why the reverse process – receiving a loan from their company – is impossible under Estonian law.
How to Avoid Tax Inspections: A Guide for Entrepreneurs
Complying with tax legislation is not only a duty but also an essential element of any business's reputation. In Estonia, the Tax and Customs Board (MTA) oversees adherence to tax laws, with the aim of minimizing losses of state revenue, ensuring equal conditions for competition, and protecting society from tax fraud.
A Full Guide to Preparing Primary Documents for Novice Entrepreneurs
What is a primary document? Primary documents are the foundation of any accounting system. They serve as a record of each economic transaction and include documents such as contracts, invoices, bills of lading, certificates of completed works, and others. These documents confirm the fact of transactions and serve as the basis for all subsequent accounting entries and reports.
What documents does your accountant need from you each month for work and why?
In order for you, as the owner, to have a complete picture of what is really going on in your company, you need accounting. This is its main and basic task.