Maximizing Tax Benefits for Entrepreneurs in Estonia
As entrepreneurs, understanding the intricacies of taxation is crucial for optimizing financial strategies and maximizing returns.
It’s important to remember that taxes are essential for society and public services, benefiting all citizens. Alongside this, there are various tax exemptions aimed at encouraging specific spending and activities and stimulating the economy, among other goals. Understanding your rights and options regarding taxes is beneficial for both employers and employees, with many nuances affecting both parties.
We’ve compiled a comprehensive list of all the tax breaks you can take advantage of in 2024.
Surprisingly, there are far more tax exemptions available than one might imagine.
For instance, the work allowance is tax-free for individuals receiving support from the European Union funds, aimed at reimbursing expenses related to participating in employment services and encouraging such participation. Essentially, this means expenses incurred during work-related trips, like transportation and accommodation costs, are not taxed.
Additionally, you can declare the following expenses tax-free:
- Mandatory pension contributions and unemployment insurance payments, excluding contributions made by self-employed…
