22.12.2015 Seminar: Preparing Annual Reports 2015 and Amendments in Accounting Act

22.12.2015 Entrepreneurs Predict Growing Turnovers and Exports for the year 2016

The Chamber of Commerce carried out the annual economic survey among its members – the survey is a part of the annual survey of Eurochambres. Approximately 60,000 European entrepreneurs participated in the survey, among them 232 Estonian entrepreneurs. The majority of our entrepreneurs predict increased turnovers, larger number of employees and increased investments.

22.12.2015 The Chamber Made 59 Proposals for Decreasing Administrative Burden

The Chamber sent to the Ministry of Finance 59 proposals for the zero bureaucracy project. Mait Palts summarised the feedback collected from entrepreneurs as follows: “Today the biggest problem is that entrepreneurs are required to submit the same data to different authorities and sometimes even multiple times – in essence it means that the data are duplicated, but entrepreneurs waste pointless time and resources on submitting the same data to different authorities. Although the ban on duplicating as a principle has been in force for already years, its implementation in reality is poor. The current situation requires more clarity and transparency. We should rely on the principle that public authorities do not ask the same data from entrepreneurs that the entrepreneurs have already sent to another public authority. There must be a change in the thinking that data would be searched from the databases that already exist and not asked from entrepreneurs. It is also important that we would start gradually moving towards not having to submit any data at all, but that the data would move automatically between systems.”

22.12.2015 Several New Amendments to Enter into Force on 1 January

A number of proposals made by the Estonian Chamber of Commerce and Industry will enter into force on 1 January. Many of these amendments will decrease administrative burden and costs for entrepreneurs. For example, small companies will be exempt from the obligation to audit packaging reports, the tax free limit of foreign business trip daily allowances will be increased to 50 euros, and the audit and inspection limits will be almost twice as high. Other important changes involve increasing of the minimum wage to 430 euros and amendments to the Accounting Act, which will simplify the rules for preparing annual reports for small companies.

30.11.2015 Seminar: Current Tax Problems

30.11.2015 Speech of the President of the Chamber of Commerce at the 90th Anniversary Gala

30.11.2015 Company Visit: Cybernetica’s experiences in Asia

30.11.2015 Proposals for Decreasing Administrative Burden

The Ministry of Economic Affairs and Communication has initiated the so called zero bureaucracy project, the aim of which is to decrease administrative burden of entrepreneurs. In relation to that, the Chamber has collected a number of proposals from entrepreneurs in recent weeks.

30.11.2015 The Chamber Awarded Medals of Honour

During the Chamber’s 90th anniversary reception at the Estonia Concert Hall on 14 November, 9 people who have contributed to the development of entrepreneurship in Estonia were awarded the Chamber’s medals of honour. Among them were the former Prime Minister Andrus Ansip, Chairman of the Management Board of Molycorp Silmet David O'Brock and Director of the Estonian Tax and Customs Board Marek Helm. The medals of honour were awarded for already 17th time.

26.10.2015 Export Club: Southeast Asia. Near or Far?

25.10.2015 Zero Bureaucracy or the Project for Decreasing Administrative Burden

The Ministry of Economic Affairs and Communication has undertaken to lead the state’s zero bureaucracy project the aim of which is to decrease the administrative burden for entrepreneurs. The state expects that entrepreneurs themselves, through their representative organisations, would set out the problems they are facing in relation to reporting, data collection or performance of bureaucratic requirements arising from the law, and would submit their proposals for decreasing the administrative burden.

25.10.2015 Amendments to the Alcohol Act and Advertising Act

The Ministry of Social Affairs has sent a draft on amendments of the Alcohol Act and Advertising Act for review to the stakeholders. With the amendments sale of alcohol and contents of alcohol advertising will be restricted.

11.10.2015 Seminar What Can the Chinese IT Sector Offer?

In November Estonia will be visited by a delegation from the Dalian region in China with the aim of introducing the business opportunities in the Dalian region to Estonian IT sector companies and establishing contacts with potential new cooperation partners.

09.10.2015 Kodumaja AS is the Company of the Year

30.09.2015 Daily Travel to and from Work May Be Considered Part of Working Time, European Court of Justice Says

On 10 September, the European Court of Justice made a decision in case No C-266/14 in which they found that the time, which is used by employees with no fixed place of work to travel from home to the first client and from the last client to their homes, must be included in working time.

30.09.2015 Board of the Chamber: We Want to see Universities’ Contribution into Training Specialists for Estonian Economy

The Board of the Chamber met at the end of September and discussed, among other issues, the report of the Estonian Research and Development Council The Network and Directions of Estonian Universities, Research Institutions and Institutions of Professional Higher Education.

30.09.2015 The Limit for Auditing the Packaging Report Raised

08.09.2015 Ida-Viru County Investment Conference 2015 - “European Union and Russia – old neighbours, new challenges“

28.08.2015 Morning Coffee with the Honorary Consul of Thailand in Estonia

28.08.2015 Transposition of the Parent Companies and Subsidiaries Directive into Estonian Law

The Ministry of Finance has prepared a draft Income Tax Amendment Act, the main aim of which is to transpose the requirements arising from the Parent Companies and Subsidiaries Directive (Council Directive 2011/96/EU). Furthermore, it aims to eliminate the difference in the treatment of resident natural persons and non-resident natural persons in calculating and carrying forward loss yielded upon disposal of securities.

01.07.2015 Chamber’s Proposals In Relation to the New Public Procurements Act

The Chamber has sent its proposals regarding the draft Public Procurements Act to the Ministry of Finance. Among other things, we made a proposal to establish additional criteria for more efficient prevention of bidding below price. For example in case of public procurements for construction works, there could be a requirement that the salaries of the employees of the sub-contractor must be at least 70% of the average of the respective sector.

01.07.2015 Proposal to Exempt Smaller Companies From Auditing Packaging Reports Supported

The Chamber of Commerce has made a proposal to the Ministry of the Environment and the Environmental Committee of the Riigikogu to exempt smaller companies from the new obligation to audit their packaging reports. The average cost of auditing is 800-2000 euros, thus it is a significant additional cost for smaller companies.. The Chamber found that so far there have been no analyses on if the gains from auditing is proportional with the increased administrative burden and costs of companies. Both the Minister of the Environment and Chairman of the Environmental Committee of the Riigikogu agreed with the proposal of the Chamber.

01.07.2015 Opening of the Business Season 2015/2016

01.07.2015 Several New Legal Acts Enter Into Force From 1 July

From 1 July over 225 legal acts enter into force, but the majority of them have no significant impact on the activities of entrepreneurs. A positive example concerns the Taxation Act according to which the state has to notify of any changes in taxes at least six months in advance. From July, changes in the Commercial Code also enter into force, giving private limited companies better opportunities for organising their activities, relationships between shareholders as well as between investors. Other important changes involve construction and planning. Below you can find an overview of some of the legal acts that enter into force on 1 July.

11.06.2015 B2B Meetings with Spanish Companies

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