The e-residency programme has earned Estonia €31 million in tax revenues 2020-08-04T06:48:51+00:00
The e-residency programme has earned Estonia €31 million in tax revenues

Estonia’s e-residency ID card.

The e-residency programme has earned Estonia €31 million in tax revenues

26.06.2020

Estonia’s e-residency programme has since its launch earned the state €41 million – €31 million of which is direct tax revenue, the team behind the state-owned initiative announced.

Businesses founded by Estonia’s e-residents have earned the state close to €31 million in tax revenue since the programme’s launch in December 2014, the Tallinn-based e-residency team announced in a statement. Adding the fees paid by e-residents, the state has earned €41 million, according to the programme.

The focus of the e-residency programme has shifted from rapid growth in the number of e-residents to encouraging them to establish strong businesses in various economic sectors to foster their growing tax payment in Estonia.

Ott Vatter, the director of the e-residency programme, said in a statement that tax payments by e-residents’ businesses to the state budget now total over €1.3 million each month. “E-residents have created over 13,000 businesses in Estonia. They are predominantly individual entrepreneurs and creators of small businesses in development stage,” Vatter said. He added that the companies started by e-residents employ over 1,800 people in Estonia.

Read more


Source: https://estonianworld.com/business/the-e-residency-programme-has-earned-estonia-e31-million-in-tax-revenues/

BECOME A MEMBER

Are you interested in becoming a member of the vibrant Norwegian-Estonian business community? Are you looking for contacts, ideas and help for developing your company? What about learning from the best practices and experiences of our CEO and board members to take your organization to the next level? Ready to expand your network? Join NECC today and the power of membership will work for you.

BECOME A MEMBER

OUR CORPORATE MEMBERS

ABOUT US

Established in 2007, Norwegian Estonian Chamber of Commerce (NECC, in Norwegian: Norsk-Estisk Handelskammer, in Estonian: Norra-Eesti Kaubanduskoda) is a non-profit membership based business association for companies with Norwegian-Estonian share capital, management or co-operation. We facilitate professional networking, seminars of interests, provide relevant information regarding both Estonia and Norway and promote Norwegian companies, competence and business values.
Responsible Business SILVER LEVEL 2020

FOLLOW US

Join our newsletter and be the first to find out all the important news.
JOIN NOW