Estonian income tax system is not perfect, but its principles are right, finds the recently elected Undersecretary of State of the Finnish Ministry of Finance in the cover story of Finnish paper Kauppalehti on 21.02.2013.
In 2012, nearly 18,600 new companies were established in Estonia, which is 800 more than a year earlier. Increase in the number of new companies is a clear indication of higher entrepreneurial activity among Estonians as well as improved business environment.
Ministry of Economic Affairs and Communications is working on Entrepreneurship Growth Strategy 2014-2020. The Ministry’s vision is to integrate innovative and reliable Estonian entrepreneurs to international business environment; and to develop a public sector that supports entrepreneurship and competitiveness.
Estonian Chamber of Commerce and Industry’s business delegation of 25 entrepreneurs accompanied Estonian Foreign Minister Mr. Urmas Paet during his visit to India and Sri Lanka. The majority of entrepreneurs participating in the delegation represented logistics companies.
The International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) want to help Estonian companies explore business opportunities in developing markets.
The Ministry of the Interior is planning to amend the Tourism Act, among other changes, the new regulation would establish an obligation for accommodation establishments to forward personal data of guests to the database of law enforcement authorities. By now the Chamber has submitted its opinion on the planned changes to the Ministry, opposing such changes.
ERR - As a part of a global study presented at Davos this week, PWC surveyed Estonian companies and found 70 percent aim to raise salaries roughly five percent this year. Companies' optimism regarding business growth is just below the global average.
Marek Helm: control of companies must become more efficient
Due to the pressure from the Estonian Chamber of Commerce and Industry, the Tax and Customs Board of Estonia gave up the plan of permanent control of the daily transactions of companies. The idea to control each and every purchase transaction of companies via a computer system was taken off the table due to opposition of the Chamber of Commerce. Furthermore, the head of the Tax Board confirmed that the second idea that aims making the control stricter – the database planned for the fight against black labour force, will be introduced already next year. Entrepreneurs will have to register their employees at the Tax Board already before they start working.
ERR - In terms of share value, the past year was a good one for companies listed on the Tallinn stock exchange, an equity analysis specialist for a leading bank has said.
ERR - The state's tax revenues for last year were better than expected, coming in at 2.3 percent above what was planned in the national budget, Prime Minister Andrus Ansip has said.
The prices of the services of the Estonian Chamber of Commerce and Industry have changed from 1 January 2013.
ERR - Enterprise Estonia said it will have to stop accepting applications for export development grants from tomorrow due to pending applications exceeding the allocated budget.
ERR - The government decided at a Cabinet meeting to turn down Nord Stream's bid to conduct marine surveys in Estonia's exclusive economic zone.
ERR - Moody's Investors Service on November 16 affirmed Estonia's A1 government bond rating and stable outlook, citing both the strength of the economy and the state's fiscal responsibility.
ERR - Estonian and Finnish ministers attended a meeting in Helsinki on November 19 between the two countries’ research and development councils.
ERR - The European Investment Fund and the Baltic countries are today signing a deal to establish a 100-million-euro investment fund.
ERR - Prompted by media reports of huge price increases due to come when the nation's electricity market fully opens up on January 1, Economic Affairs Minister Juhan Parts has recommended that consumers wait a little longer before choosing their electricity supplier.
ERR - For the third straight year, Freedom House's recent survey indicates Estonia has the greatest internet freedom in the world.
EMT AS was declared the Most Competitive Company 2012 already for the second consecutive year at the gala reception held at the Estonia Concert Hall on 20 September 2012. EMT also won in the category of communications and IT-service.
BBN - “The whole Northern Europe and Estonia are some sort of an oasis. It’s a fact that other economies elsewhere are doing much worse than Scandinavia and Estonia. We are enjoying this situation and praying that is remains like that,” Jüri Käo, one of Estonia’s most powerful businessmen, told Äripäev.