I’m thinking about setting up a company in one of the countries.. I did some research but need to understand the topic of taxes a bit deeper, to see which one would make more sense long term in my specific case.
From what I thought, in Estonia I pay 0% corporate tax and pay 20% income tax (when I withdraw money out of the business account to my personal account).
However, apparently I pay both corporate and income tax in my country of residence (tax residency).
Which leaves me confused.
In Bulgaria on the other side, I pay 10% corporate tax from all revenue and 5% income tax (when I withdraw money out of the business bank account).
They do have double taxation measures in place, so if I am resident in a European country, I don’t have to care about anything else. I do all bureaucracy within Bulgaria and that’s it.
For someone that is more knowledgeable on the subject and ideally has a company either in Bulgaria or Estonia (as a foreigner) - could you explain this a bit further ?
From what I thought, in Estonia I pay 0% corporate tax and pay 20% income tax (when I withdraw money out of the business account to my personal account).
However, apparently I pay both corporate and income tax in my country of residence (tax residency).
Which leaves me confused.
In Bulgaria on the other side, I pay 10% corporate tax from all revenue and 5% income tax (when I withdraw money out of the business bank account).
They do have double taxation measures in place, so if I am resident in a European country, I don’t have to care about anything else. I do all bureaucracy within Bulgaria and that’s it.
For someone that is more knowledgeable on the subject and ideally has a company either in Bulgaria or Estonia (as a foreigner) - could you explain this a bit further ?
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