1. Comparison summary: Founding a company
Country Taxes Permits
Austria - The corporation tax is 25 % but this duty has to be at
least € 1,750 per year.
- Capital Returns Tax:
For the profit which goes to the associates the business
has to pay duty about 25 % as
capital.
- Sales Tax:
The sales tax accounts for 10 %, if somebody wants to
stay in a hotel, another 10 %
For passengers transport. The international flights are
always duty free
- business license
- After that you have to register your trade
- Registry in the commercial register
- Minimum share of a company with limited
liability = 35,000 €
France Direct taxes:
-depend on the turnover, the location of the company, and
the number of employees.
Indirect taxes:
“Normal” VAT rate is 19,6% and the reduced rate is 5,5
%
Germany “Normal” VAT rate is 19 % and the reduced rate is 7 % Requirements and responsibilities:
- personal requirements
- Compulsory registration
- Business related qualifications
Holland The VAT in the Netherlands is 6% or 19% for a luxury
product
- You don’t need an education to start a
company
- The environmental permit are 25 permits
together in one permit
- Writing a business plan is not required,
but writing a business plan is very advisable.

2. Comparison summary: Founding a company
Italy - There are no taxes for selling products in Travel
Agencies.
- Direct taxes:
personal income tax (IRPEF): applied to revenues of sole
proprietorships(43%);
corporate income tax (IRES): applied to revenues of
business corporations(27%);
Italian regional tax on productive activities (IRAP):
applied to sole proprietorships, partnerships and business
corporations (3.9% ).
- Indirect Taxes:
VAT-rate is 21 %
- The founder has to submit the D.I.A. to the
“Province of Pisa”, our District Authority.
The D.I.A. is a document stating that the person has
all the professional and personal qualifications and
requirements to set it up and the premises chosen
have all necessary requirements, as well.
- As a qualification it is compulsory for a Travel
Agency to have a Technical Director.
- It is not compulsory to have a business plan.
Slovakia - Corporate income tax is paid at a flat rate of 19 %
- VAT rate is 20%
Two stages:
- establishment: documents required are:
1. Memorandum of Association
2. Articles of Association
Afterwards you have to make an application for trade
licences, tax registration and health insurance and for
a travel agency you need a graduation certificate
from the University
- Incorporation:
Registration at the Commercial Registry plus
registration for pension, sickness and unemployment
insurance
- Business plan is not necessary
Spain - On anything purchased in travel agencies, customers
pay VAT at the rate of 8%.
- Opening Permit.
- Travel Agency License
- Qualification
There is no special qualification to obtain a license
- It is not necessary to present officially a business
plan.

3. Comparison summary: Founding a company
Turkey - no tax for foreigners if the invoice is addressed to
abroad
- VAT and Private Consumption Tax
- 8% tax for accommodation, 18 % tax for transportation
and 185 for alcohol consumption
This are the procedures the company has to get:
1. Make a petition to Culture and Tourism Ministry
with a name certification of the company.
2.The person has to apply to TÜRSAB in 30 days
after the approval with the seven documents in order
to have a Travel Agency Business Licence.
3. Notary Procedures
4. Trade Register Procedures
5. Tax Administration Procedures
6. Chamber of Commerce and Industry Procedures
7. Municipality Procedures
The owner has to:
- Has to be over 18 years old.
- Mustn’t be arrested because of infamous crime or
fraudulent bankruptcy,
- Has to have the efficiency of being a businessman
- Mustn’t be fined for the 30th law clause
Time for getting the permits: 35 days
Costs for the permits: approx. 1.500.- € and the club
money to TÜRSAB 12615.- €
- Business plan is necessary

4. Comparison summary: Founding a company
country Finance Running costs Rights for employees
Austria Business loans have an interest rate of 3 %.
If you need support, first you will get advice
from a bank, for example. Also, you get 2 %
subsidy on interest for loans or investments.
For business formation you get 25 % of start
- up cost at one point. The bottom line is €
1,000 - and maximum € 20,000.
- Initial capital for companies
The primary deposit of a company is €
35,000.
Average income of a qualified travel
agency worker: € 1,742 gross per
month (approx. € 1,450 net).
The average starting salary is € 1,420
up to € 1,690 gross per month.
Regular costs for employers
- Staff (salaries of employee)
- Taxes (Wage tax)
- Insurances (casualty insurance
health insurance, social security,
damage insurance)
The corporation tax is 25 % but at
least € 1,750 per year.
Capital Returns Tax:
For the profit which goes to the
associates the business has to pay
duty about 25 % as capital.
Income tax:
The income tax varies from € 0 to €
11,000 0%. From € 11,000,
to € 25,000, the income tax is about
20 %. From € 25,000 to € 60,000,the
tax accounts to about 30 %. Above €
60,000,it is 50 %.
Sales Tax:
The sales tax accounts for 10 %, if
somebody wants to stay in a hotel,
another 10 % for passengers transport.
The international flights are always
duty free.
Working Hours
The working hours include the
working time without breaks.
The daily working time mustn’t be
more than 8 hours and the weekly
working time mustn’t
be more than 40 hours.
During the daily a weekly working
time the employer doesn’t include
overtime
Holiday entitlement
- If the length of service in
company is 25 years you ha
ve a holiday entitlement of
about 30 workdays
If you have worked in a company
longer than 25 years, you have a
holiday entitlement of about 36
days.
But if you have worked in a
company under 6 months, you
have a holiday
entitlement of about 2 days per
month

5. Comparison summary: Founding a company
France - Banking Loan to Firms (Prêt Bancaire aux
Entreprises in French). This loan is given to
companies which their turnover does not
exceed 80 millions €. It can finance 70 % of
an investment and the borrower has from 5
to 12 years to pay back. The interest rate is
fixed by the bank.
- Loan to Company Creation (Prêt à la
Création d’Entreprise in French). This loan
is given to firms in creation, created or taken
back for less than 3 years, with less than 10
employees and which haven’t got another
loan. It must be associed with a bank loan
between 2000 € and 7000 €, payed back in
more than 2 years. The Loan to Company
Creation has the same interest rate as the
bank loan and the borrower has to pay the
loan back in 54 monthly payments (5 years).
- Employees costs
The salary of the 3 administrative
officers: from 1100€ to 1800€ per
month
- The book keeping: approximately
1750€
- The agency’s director: from
2270€ to 3180€ per month
- The team leader: 1400€
Taxes
45% of the agency’s turnover goes
to the taxes
Rent:
the price of a commercial premise
is 66€ per square meter per year,
before tax.
Advertising:
for the launching of the agency:
2000-3000€
for the running : 2000€ per year
Fixed term contract
- a contract of employment which:
- has a definite start and end date,
or terminates automatically when a
particular task is completed, or
- terminates after a specific event
Long term contract
contract to perform work for
another over an extended period of
time.
Working time:
If an employee works over 35
hours per week, he does extra
hours.
Paid Leave
Employees have got paid leave, if
they have worked for the same
employer about ten days. Each
month of work gives two days and
a half paid leave. During the paid
leave :
- the employer gives some money
according to the period of paid
leave.
- If the employees become sick,
they can’t extend their paid leave.
-If during the paid leave, there is a
bank holiday, he can extend his
paid leave of one day.

6. Comparison summary: Founding a company
Germany - private costumer credits
- secured credit :
1 – 4 years 2,42 %
5 years 2,63 %
10 years 3,04 %
commercial credits until 4 years = 3,05 %
Tax:
Depending on the type of enterprise:
business tax , corporate tax or income tax
Capitale necessary depends also on the
type of enterprise, but it is not more than
25.000 Euro
Costs for employee:
Gross payment per month 2750
Euro.
Tax:
406 Euro per month
Insurance:
Health insurance: 15,5 %
(employee´s contribution 8,2%,
employer´s contribution 7,3 %)
Rent:
620€ bei 69m³in the city of
Stuttgart
During the probationary period the
employer and employee are
allowed to fire or to quit without
reason.
Probationary period
1 till 6 months
After the probationary period:
- in mutual agreement
- for a good cause (for example:
allergies)
Cancelation period (until ending of
the calendar week), depending on
the period of the employer-
employee relationship between 1
month and 7 months
Holland Base rate for a business loan is 4.5%
Maximum grants from the government,
50,000 euros and credit counseling for a new
business
Required an initial capital for starting
businesses is 18,000 euros.
The taxes in Holland are in these
boxes
0 to 18.945 Euro 33.10%tax
18.945 to 33.863 € 41.95% tax
33.863 to 56.491 € 42.00% tax
56.491 -... . .. € 52.00% Tax
Cost insurance / pension for a new
employee is about 30% of gross
wages
Costs for renting business premises
are 144-136 euro for a square meter.
Cost to advertise in magazines
ranging between 1,000 and 10,000 for
a page in color. A radio spot of 25
seconds costs between 250 and 1,000
euros
Every employee has the right to
get a number of vacation days
Normally it is between the 23 and
25 days(5 workdays times 4 +
holidays like Christmas, New Year
and Easter
Every employee has the right of
wage payment by illness
Employees can ask to work less or
more hours. Employers can only
refuse this when there is not
enough or too much staff

7. Comparison summary: Founding a company
Italy - The average interest rate is high and it is
about 7% or 8%.
- The rules to get subsidies differ from
region to region and from province to
province. In order to get funds from the
government the people who want to set up a
Travel Agency have to apply to the Regional
or the District Authority.
- The capital necessary to set up a Travel
Agency is generally from 8.000 € to 10.000
€, but it depends on the type, the size and the
location of the agency.
Costs for employee (1 high-trained
person):
The costs for a high- trained person is
1,560 € according to the Collective
Labour Agreement for the Tourism
Sector.
The average income of a Tourism
Sector employee is about 1,200 €.
Tax:
the rate that the employer has to pay
is about 33%.
The employee pays a rate of 9% taken
from his salary and paid by the
employer to the INPS (the National
Institute of Social Security).
Insurance:
in case of accidents, diseases,
invalidity, old age, and involuntary
unemployment.
Employers pay two-thirds of
contributions while employees pay
the remaining third.
Rent:
about 18 € a month (per m²).
Advertising:
Two options for Internet:
-Standard web page: 450 per year
Plus hosting fee 168 Euro
-
Advertisement
The price for an advertisement in a
magazine ranges from 30 to 100 €.
Fixed/Unlimited Contracts
Employment contracts can be executed
for a fixed-term or for an indefinite period
of time.
Trial Period
During this period each party is free to
terminate the contract without notice and
without the payment of any indemnity
(maximum duration being 6 months).
Working Time
Averagely, 8 working hours per day are
established.
Holidays & Vacation
In Italy there are 11 religious and national
holiday days.
Employees are entitled to an annual
vacation period of 4 weeks.
Fire:
Under the Italian Law an employee is
dismissible for:
1) Just Cause :
a serious breach by the employee of
his/her duties or other behaviour that
makes continuation of the working
relationship unfeasible;
2) Justified Grounds:
failure to follow important instructions
given by the management,
low performance
3)An objective reason,
whereby the employer needs to re-
organise production or labour force.

8. Comparison summary: Founding a company
Slowakia - Interest for business loans - between 4,6
% and 8 %
- Funding from government
People who are unemployed last 3 months
can get maximum 3700€ for starting own
business. It is necessary to have a business
plan and present it to the professional board.
Costs per employee ( 1 high
trained person)
- Income average 765 € brutto
- Tax 19%
Minimal wages – 327 €
Insurance - both employers and
employees are subject to social
security taxes on an employee's
gross monthly pay. The rates are
35.2% for employers and 13.4%
for employees. However,
contributions are capped at a
maximum of 825.41€ for
employers and 308.04 € for
employees per month
Rent:
- An office per m2 around 10€
Advertising costs
Monthly: Billboard ca 200€
Journal, newspaper - 23€/ 1 cm2
Employment is based on a written
employment contract between the
employer and employee, which
may be concluded for a fixed or
indefinite period.
It is also possible to agree other
terms in an employment contract,
such as material benefits or a trial
period. A trial period may last up
to three months and may not be
extended.
An employment contract may be
terminated by agreement, by the
serving of notice, by immediate
notice or by termination during a
trial period.
Employee can work up to 40 hours
a week. Employees working a two-
shift system may work up to 38 ¾
works a week. Employees working
a three-shift system or who are
involved in uninterrupted work
may work up to 37 ½ hours a
week.
The minimum basic holiday
allowance is four weeks.

9. Comparison summary: Founding a company
Spain
Loans: interest can be from 9% to 12%
approximately, depending on the loan rates
and the repayment schedule.
- Loans to young businessmen have been
offered by the Ministry of Industry, Energy
and Tourism (ICO). The aim is to encourage
young people to start their own company
and give them better access to credit.
Average salary:
Basic wage is 1.220,24 € * 16
payments for a worker with civil
responsibility at level 2, i.e. a
manager of a branch, main
office…
- Tax:
The employer must deduct a
percentage of the employee´s
salary for tax purposes and pay it
into the local Inland Revenue
office account according to the
following (between 24,75% and 52
%)
- Insurance:
Travel agencies should subscribe
to an insurance against workers´
invalidity or death insurance of
27.000 €
- Rent
the average price is 18 €/m2
Advertising:
Different kind of costs depending
on the advertisement
The employee will be offered an
indefinite contract to promote
employment and to allow us apply
for subsidies to pay the National
Insurance contributions.
- In case of a worker´s dismissal
the company must pay the worker
20 days’ pay for each working
year calculated proportionally with
respect to those who have been
employed for less than a year.
Turkey Interest for business loans: 1,39%
minimum loan 1500.-€ maximum loan
21.600.-€
- Subsidies
There is not any subsidy for Travel
Agencies. Subsidies are mostly for hotels,
Costs per employee ( 1 high
trained person)
Income average 1082.- €
1082.- € net gain per month means
gross salary is about 1640.- €
That means 19680.- € a year gross
Employer and the employee make a
contract.
All employees must have a Social
Security Insuarance.
All employees have the right to take
medical service.
Private medical insuarance can be

10. Comparison summary: Founding a company
holiday villages and holiday resorts.
Capital necessary for founding the company:
28025.- €
salary plus 4212.- € a year
insurance.
-Cost to rent an office( per m2)
The average cost to rent an office
is 50,- €
Advertising Costs
Internet: costs per click 0,20 Euro
per click
Newspaper: 1 line /cm is 35.- €
done by the employer if necessary.
Employer has to set up good working
conditions for employees.
Employer gives bonus, if it is agreed
on the contract.
Annual pay vacation.
Employer decides the date of
holidays.
Employee can not go on a holiday
before completion of 1 year.
After completion of 1 year employee
can go on a holiday for 2 weeks.
After completion of 5 year employee
can go on a holiday for 3 weeks.
After completion of 15 year employee
can go on a holiday for 4 weeks.
If the employee takes sick leave for a
couple of days it cannot be deducted
from annual pay vacation.
Fire
If employee has worked for 6 months,
he has to inform employer 2 weeks
before.
If employee has worked between 6
months and 1,5 year, he has to inform
the employee 4 weeks before.
If employee has worked between 1,5
year and 3 years, he has to inform the
employee 6 weeks before.
If employee has worked 3 or more
than 3 years, he has to inform the
employee 8 weeks before.
If employee quits the job before 1
year at work, he has no right to ask
for severance pay.

11. Comparison summary: Founding a company