Why? The company would be formally Estonian. You'd pay your 20% on any dividends to Estonia, then whatever tax your country of residence demands.

I'm not advocating tax fraud in any way shape or form. I'm saying Estonia will allow you to setup an Estonian business, and has a business friendly tax structure.

It won't help you with your personal taxation when you bring your money back as dividends/salary. But it will help you if you choose to reinvest it in the business.