Posts tagged as tax

Share of alcohol, tobacco tax in Estonia’s state budget among largest in EU

Thursday, September 16, 2021

The proportion of income from alcohol and tobacco excise duty in Estonia’s state budget is among the largest in the European Union at almost 4.8 percent of the budget, a survey by the Foresight Center shows. “Given the annual deficit of the Estonian health care system will increase to €900 million by 2035, Estonia has used one-sided taxation options to promote healthy behavior,” Magnus Piirits, an expert at the Foresight…

Estonia: tax system needs to be modernized

Tuesday, August 24, 2021

Estonia’s tax system needs to be modernized, Jüri Ratas, chairman of the Center Party and speaker of the parliament, said in his opening remarks at a conference on the Estonian economy in Tallinn on Tuesday. “The tax system is an instrument with which we can reduce inequality and poverty and raise the standard of living of all people and the competitiveness of businesses. The overall tax burden determines the volume…

Madis Jääger is to step down as director of the Tax and Customs Board

Tuesday, August 24, 2021

Madis Jääger is to step down as director of the Tax and Customs Board (MTA) after just over eight months in the post. Jääger said that he sees his future goals within top positions in the private sector, which, he says, is an arena which thinks in a business-like manner in terms of processes, goals and team-work. Jääger, 41, started as head of the MTA in early January, and says…

Estonia: global minimum corporate tax

Thursday, August 12, 2021

Estonia is one of few countries that does not support the implementation of a minimum global corporate tax. Prime Minister Kaja Kallas (Reform) plans to find a compromise in discussions with European Union and United States representatives. Ministry of Finance tax policy adviser Erle Kõomets said the U.S, EU and other EU member states are applying pressure so Estonia would change its mind on the agreement and join the program…

Tax take for the first half of 2021 stands at €3.95 billion

Wednesday, August 11, 2021

Tax take for the first half of 2021 stands at €3.95 billion, a rise of 13.8 percent on the same period in 2020, the finance ministry says, suggesting recovery since the pandemic arrived that year. €778.8 million of the total came from June alone, the ministry says, while each individual month, January to June, saw a rise on year, with growth particularly strong in the first three months, Merliin Laos,…

Tax in Latvia now payable on all goods ordered from third countries

Thursday, July 1, 2021

From Thursday, July 1, all goods purchased by people in online stores and received in consignments from countries outside the European Union will have to fill in a declaration and pay value added tax. The rules come into force across the whole EU and will have most impact on people making purchases from online shops in third countries such as China and the United Kingdom. Most of the items which…

Tax take rises nearly 15 percent in April 2021 compared with previous year

Friday, June 11, 2021

Tax take for April stood at €670.8, a 14.9 percent rise on year, the Tax and Customs Board (MTA) says, with growth mainly fueled by the low starting point, given that April 2020 was the first full month to follow the arrival of the coronavirus pandemic. VAT receipts January to April 2021 came to €804 million, 19 percent more than in the same period in 2020, though even 5.9 percent…

OECD meddling in tax policy bad for small countries

Tuesday, June 8, 2021

Minister of Finance Keit Pentus-Rosimannus (Reform) said that OECD intervening in tax policy works to harm competition, which is especially unfortunate for small countries. “Long-debated proposals for reforming the digitizing global economy have begun to take shape at the OECD. As it often happens, the initially simple plan of giving countries that consume the services of digital giants the right to tax them has been replaced by several new ones.…

Estonia to apply for exemption to establish income tax minimum

Monday, June 7, 2021

G7 leaders agreed on Saturday to set a global corporate tax rate of 15 percent, and if the agreement is signed at the G20 meeting in July, Estonia must apply for an exemption that would allow corporate tax collection to be postponed for several years. Estonia takes into account corporate income tax only when paying out profits, which may not take place every year. As the income tax minimum only applies…

Estonian Ministry of Finance submits draft law exempting state pension from tax

Wednesday, May 26, 2021

A draft to exclude the average old-age state pension from taxation from January 2023 has been drawn up, Minister of Finance Keit Pentus-Rosimannus (Reform) has said. “In essence, this is the first stage of streamlining the income tax system,” Pentus-Rosimannus explained. “The principle that the average old-age pension remains exempt from income tax in Estonia will come into force again and the income tax exemption will no longer decrease as the…