Freelancer taxes

[fuxlg]

Hey guys, i only recently started to earn enough money to ( maybe ) start worry about it and im hoping to get some advice from more experienced peoples.
I am freelancer from Latvia, no company, receiving money from Israel on Payoneer.
I will earn 35,000 - 40,000 eur per year and my govt want to have 30% of it which in my opinion is too big piece of a pie to share..

Could someone please suggest if this is reasonable amount to start thinking about offshore company?
Is this amount enough for govt to start even care?
Is there any better option to receive money than Payoneer to stay a bit more out of govt radar?

Thanks for your time!

 

[Martin Everson]

fuxlg said:
Could someone please suggest if this is reasonable amount to start thinking about offshore company?
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It's not.

fuxlg said:
Is this amount enough for govt to start even care?
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Yes.

fuxlg said:
Is there any better option to receive money than Payoneer to stay a bit more out of govt radar?
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Relocate. Don't risk problems over 40k.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[CoffeeCherryTea]

fuxlg said:
I will earn 35,000 - 40,000 eur per year and my govt want to have 30% of it which in my opinion is too big piece of a pie to share..
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Only on income tax, or incl. pension, social etc.? If all inclusive not so bad.

 

[JimBeam]

Martin Everson said:
Relocate. Don't risk problems over 40k.
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Relocate where?
(I'm just curious what advice would you give in this case)

Maybe you could consider moving to Croatia
https://visaguide.world/digital-nomad-visa/croatia/https://www.expatincroatia.com/digital-nomad-visa-croatia/This is not an advice, but they don't tax freelancers so it might be something worth looking into.
I think this is something still new so I haven't seen any feedback about how it works on this forum (or elsewhere) so far.

 

[Martin Everson]

JimBeam said:
Relocate where?
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To another country with lower taxes.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[donald1234]

you complain about 30%?
I work in one of the best country in europe (considered as so) and pay all in around 50-55%... Which is just disgusting.

 

[Martin Everson]

bru1234 said:
you complain about 30%?
I work in one of the best country in europe (considered as so) and pay all in around 50-55%... Which is just disgusting.
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Don't worry mate. I will setup a cashbang asmr (like Mukbang) youtube channel of me counting and spending my tax free cash to make you feel better smi(&%.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[thedirtyteller]

JimBeam said:
Relocate where?
(I'm just curious what advice would you give in this case)

Maybe you could consider moving to Croatia
https://visaguide.world/digital-nomad-visa/croatia/https://www.expatincroatia.com/digital-nomad-visa-croatia/This is not an advice, but they don't tax freelancers so it might be something worth looking into.
I think this is something still new so I haven't seen any feedback about how it works on this forum (or elsewhere) so far.
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What about pensions and social contributions? I've never heard that Croatia does not tax freelancers. Are there any limits? Certain freelancers can make seven-figure income. I find it hard to believe they won't come after you.