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As of 1 January 2005 Estonia has a new income tax rate of 24% and a basic exemption of 1700 EEK per month.

According to Article 4 of the EU Parent-Subsidiary Directive (90/435/EC) on the common system of taxation applicable to parent companies and subsidiaries of different EU member states, member states must: (i) refrain from taxing (ie, the exemption method); or (ii) authorize the parent company to deduct from the amount of tax the amount of corporation tax paid by the subsidiary (ie, the credit method).