An increasing number of Russian businessmen are moving their holding companies to Estonia to take advantage of the country tax system, according to Marko Saag, a fiscal specialist and lawyer at the Glimstedt law firm. Estonia offers three major bonuses that the Russian businessmen appreciate: no immediate taxation on profit the moment it is earned; no taxation on reinvested dividends; and an exemption from tax on interest earned if it's within market value norms, Saag added.
Article was originally published in EER News - Estonian Public Broadcasting on 8/5/2011.
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