Blog
Legal address, contact person, and corporate secretary
Virtual Office
Hire contractors and employees with ease
HR
Create contracts in
a matter of minutes
Contracts
Issue and send invoices with
no limits. Manage them with ease
Invoicing
Take care of all VAT
problems with our tools
VAT-Related Tools
Focus on your sales and we’ll take care of the reports
E-Commerce Accounting
Take care of all accounting reports for your company
Accounting for SMEs
Blog
We’ll solve complicated legal issues for Estonian IT companies
Legal Services
Start your company
with ease on Enty
Register a Company
Register your trademark with ease
Trademark Registration
Take care of overdue or one-time reports with Enty
Annual Accounting Reports
I liked the idea of cooperating with friends, young company and I decided to move forward with you.
And I'm totally satisfied, honestly. You were doing follow-ups and helping me with everything all the time.
Meet our customer!
Let’s grow together!
Become a Partner
Explore useful articles and guides on managing your company
Blog
Samantha Asensi
Useful business glossary to help you
Glossary
Recommend Enty to your friends and receive bonuses from Enty
Invite a Friend
Find out what our
clients are doing
Enty Hub
Rewards
Explore discounts and offers from Enty’s partners

VAT, EORI, IBAN for Estonian Company: What Does It Mean?

Jun 04, 2021 · 3 min read

Don't miss new articles and offers. Subscribe to our newsletter!
We use cookies to provide the best
website experience. Learn more.
Accept all cookies
We use cookies to provide the best website experience. Learn more.
Accept all cookies
During the incorporation of an Estonian company, you can face these quite complicated terms: VAT, EORI, and IBAN are highly important for each company. If you are opening your first company or completely unfamiliar with how companies in the EU work, this topic might be a bit hard but no worries, we are here to help you navigate through this cloud of unknowing.

VAT in Estonia

VAT (Value Added Tax) is a consumption tax that is imposed on the price of goods and services, that is charged on every step of the commodity exchange. The VAT rate in Estonia is 20% (standard rate) but it might be reduced to 9% if you supply certain goods and services. You become VAT liable (obliged to get a VAT number) in case of the excess of the threshold which is 40000 EUR. You can read more about these and other Estonian VAT subtleties in this article.
Explore how Enty can simplify the VAT workload of your Estonian company

EORI — Economic Operator Registration and Identification Number

EORI is a unique number used in the European Union for the identification of companies and individuals (economic operators — special legal status) engaged in a customs-related field in the EU. Your business can operate both in and out of the EU. Each company working with importation, exportation, or transit of goods is obliged to get this number that makes its activity legal and enables a company to work freely in an inter-economic area. Remember that you should get this number before starting your customs activity.

This number is issued by the customs authority of a Member State of the EU where a company is incorporated. In the case of Estonian companies, you have to obtain an EORI in the Estonian Tax and Customs Board and this process will be done free of charge and fully online (as well as almost everything in Estonia). A unique EORI number registration means the recording in the Economic Operators Registration and Identification system where all EORI numbers are listed.

Remember that if your company is not engaged in trading physical goods throughout the European Union or sells only digital products, you don't need to obtain an EORI number. In the case of Estonian companies, e-Residency will be enough for working in the main fields of economic life. Note that EORI is a unique number, which means that a company can be registered just under the only one number. If you need to review your EORI or check the absence of a number, visit this official website.

IBAN — International Bank Account Number

The name speaks for itself. IBAN is an international 20-digit number used for both domestic and international transactions, it simplifies and standardizes your interaction with banks and financial institutions across not only the EEA but almost all over the world. You can check what countries introduced IBAN here. Yes, earlier it was a special BBAN number for domestic payments, but since 2014, domestic and international transactions have been set to IBAN in Estonia. An IBAN number actually made international business life much easier and safer because of the standardization of the payment process and the deliverance of possible mistakes with operations between different countries.

You should obtain an IBAN number if you consider paying invoices from all over the world. An IBAN will make your transactions secure, easier, and faster. You can get this number in Estonian banks. To check your IBAN number visit an official tool.

How Enty Can Help You With Obtaining

Our job is to make things easy for your company. And, of course, we can help you with all of these things. If you want to obtain VAT, EORI, or IBAN as soon as possible, feel free to contact us. Enty can get you rid of a lot of time-consuming operations like company incorporation, accounting, and help you perform so many exhausting tasks with ease. Forget about struggles, just visit our website to be one step closer to the paperless future.
Related Articles