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The world is becoming more interconnected than ever before. This brings a set of opportunities not only for big corporations, but also small and medium-size enterprises that can expand their businesses globally. When carefully planned, entering new markets can not only increase profits, but also reduce risks while rocket-launching growth on an international scale. However, the difference among jurisdictions, market specifics, customs, traditions and the business environment in general significantly affect which country has the best to offer and which are providing less benefits to specific types of businesses.
The overview was created in cooperation with our global business community Accace Circle, providing basic yet valuable information from 13 countries. The infographic layout allows you to quickly breeze through the specifics and compare key data that may be crucial for your ambitions of international expansion.
Entering a new market can be a piece of cake with the right partner by your side. Whether you are just about to expand your business or you are starting from zero with entrepreneurship, our team of local experts can help you design the right business solutions for you. We specialise in providing full-range advisory and BPO services to keep your tax, legal and corporate agenda, accounting, reporting, payroll and HR operations not only effective and accurate, but also 100% complaint with your local duties and regulatory requirements.
Limited liability company
Bosnia and Herzegovina, Bulgaria, Czech Republic, Hungary, Poland, Morocco, Romania, Serbia, Slovakia, Turkey
Private limited company and public limited company
Estonia
Private company (IKE)
Greece
Private company – limited by shares (LTD)
United Kingdom
* Depends on the nature of the legal form of the company; duty free for LLC
** The capital is freely determined
No costs specified for Turkey
Bulgaria
Czech Republic
*Reduced rate applies to certain investment fund profits
0% on pension funds
Estonia
**Automatically applied to the amount of profit distributions, which are equal or less than average distributed profits of the last 3 calendar years, on which the company has paid the CIT
Federation of Bosnia and Herzegovina
Greece
Hungary
Poland
***For small taxpayers
Morocco
****12.5% on net income below MAD 300,000; 20% for net income between MAD 300,000 and MAD 1,000,000; 28.25% for net income between MAD 1,000,001 and MAD 100,000,000; 32% for net income above MAD 100,000,000
Republic of Srpska
Romania
*****On the revenue of gambling companies and nightclubs or 16% on the taxable profit, based on which is higher
Serbia
Slovakia
******On annual taxable revenues below EUR 49,790
Turkey
United Kingdom
*******On profit over GBP 50,000 but below GBP 250,000
Calendar year
Bosnia and Herzegovina, Bulgaria, Greece, Morocco, Poland
Calendar of fiscal year
Czech Republic, Hungary, Romania, Serbia, Slovakia, Turkey
Fiscal year
United Kingdom
Calendar month
Estonia
Bulgaria
0% on the export of goods and services
Czech Republic
Estonia
0% on the export of goods and services
Federation of Bosnia and Herzegovina
0% on the export of goods and services
Greece
Hungary
Poland
0% rate on exemptions
Morocco
Republic of Srpska
0% on the export of goods and services
Romania
Serbia
Slovakia
0% on the export of goods and services
Turkey
United Kingdom
0% on specific goods and services
Bulgaria
* On income acquired in a seafarer capacity
Czech Republic
15% on annual income up to CZK 1,935,552, 23% on annual income above CZK 1,935,552
Estonia
Federation of Bosnia and Herzegovina
Greece
Based on income
Hungary
Poland
Based on income
Morocco
0% for annual income below MAD 30,000; 10% for annual income between MAD 30,001 and MAD 50,000; 20% for annual income between MAD 50,001 and MAD 60,000; 30% for annual income between MAD 60,001 and MAD 80,000; 34% for annual income between MAD 80,001 and MAD 100,000; 38% for annual income between MAD 100,001 and MAD 180,000
Republic of Srpska
8% on annual income related to employment contract, 10% annual on annual income related to independent business activities and 13% on annual income property and property rights, capital gain income and income from foreign source
Romania
Serbia
Based on the type of income
Slovakia
19% on annual taxable income below EUR 38,553.01, 25% on annual taxable income exceeding EUR 38,553.01
Turkey
Based on income
United Kingdom
** 0% on annual income below GPB 12,570; 20% on annual income between GPB 12,571 – GBP 50,270; 40% on annual income between GBP 50,271 – GBP 150,000; 45% on annual income above GBP 150,000
Overview of the rate paid by employer or employee
Bulgaria
Czech Republic
Estonia
* In addition, 0.8% unemployment insurance contribution is paid by the employer
Federation of Bosnia and Herzegovina
Greece
Hungary
Poland
** The accident insurance varies based on the business sector
Morocco
Republic of Srpska
Romania
Serbia
*** In addition, 0.75% unemployment insurance contribution is paid by the employer
Slovakia
Turkey
United Kingdom
**** 0% on income up to GBP 9,100 per tax year
Overview of the rate paid by employer or employee
Bulgaria
Czech Republic
Estonia
Included in the social security contributions
Federation of Bosnia and Herzegovina
Greece
Included in the social security contributions
Hungary
Included in the social security contributions
Poland
Morocco
Included in the social security contributions
Republic of Srpska
Romania
Serbia
Slovakia
Turkey
Included in the social security contributions
United Kingdom
Health insurance paid by an employer in the UK is not covered by national insurance, unless covered by private healthcare, which is on an individual basis. The rate of the health insurance contributions paid by the employee in the UK is the same as for the employer.
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About Accace
Accace is a proactive consultancy and outsourcing partner who bridges the gap between needs and solutions. Combining smart and streamlined technology with a holistic approach, we provide an all-round care to clients and consider their matters as our own. With over 800 experts and more than 2,000 customers, we have vast experience with facilitating the smooth operation and growth of small to large-scale, global businesses.
About Accace Circle
Accace operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience and erase the borders of service delivery. Covering over 50 jurisdictions with nearly 2,500 professionals, we support more than 15,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 200,000 pay slips globally.
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