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Tegevusaruanne 2023

Executive Summary: Annual Tax Statement 2023

Company: Numidia OÜ

Business Overview:

As an IT consultant, our business has maintained consistent performance throughout the fiscal year. We have navigated market challenges with resilience, adapting to dynamic industry trends while upholding our commitment to delivering value-driven solutions to clients.

Key Highlights:

Hourly Rate Adjustment: Notably, we have successfully established a higher hourly rate, increasing from €60/h to €80/h. This adjustment reflects the value of our services and acknowledges our expertise in the field, positioning us competitively within the market.

Strategic Business Trips: In pursuit of expanding our network and fostering future business opportunities, we have undertaken strategic business trips to engage with nomad communities and coworking spaces. These efforts have been instrumental in forging valuable connections and exploring potential collaborations.

Financial Impact:

The increase in our hourly rate contributes positively to our revenue stream, enhancing profitability and financial sustainability. Additionally, while business trips incur expenses, the potential return on investment in terms of future business opportunities justifies these expenditures.

Tax Implications:

From a tax perspective, the adjusted hourly rate influences our taxable income, potentially resulting in a higher tax liability. However, the expenses associated with business trips can be eligible for tax deductions, helping to offset the overall tax burden.

Future Outlook:

With the completion of the project in February 2024, our focus now shifts towards actively scouting for new business opportunities. The availability of resources previously allocated to the project opens up avenues for strategic investment, with a priority on generating additional income streams.

Scouting for New Business:

In the post-project phase, our team will dedicate efforts to identify and pursue new business prospects. This entails leveraging our expertise, network, and market insights to secure lucrative contracts and partnerships. By proactively seeking out opportunities aligned with our core competencies, we aim to sustain business momentum and foster continued growth.

Strategic Investment of Funds:

Furthermore, the funds liberated from the completed project present an opportunity for strategic investment. We will explore avenues such as diversified portfolios, innovative ventures, or expansion into complementary sectors to maximize returns and bolster financial resilience. This proactive approach to capital allocation reflects our commitment to long-term sustainability and value creation.