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30.03.2020|Ministry of Finance

Fitch affirmed Estonia's sovereign rating at its current high level

The rating agency Fitch affirmed Estonia's long-term sovereign rating at the current high AA level with a stable outlook. Estonia, as a small and open economy, is susceptible to external shocks such as the Covid-19 epidemic, which is currently spreading, the Estonian government has reacted quickly...
27.03.2020|Ministry of Finance

The Nordic Investment Bank grants Estonia a loan of EUR 750 million

The Nordic Investment Bank (NIB) and the Estonian state, signed a loan agreement of EUR 750 million, to finance the economic measures, necessary to mitigate the effects of the coronavirus. "We are actively dealing with creating a sufficient financial buffer for the Estonian state. We issued on...
27.03.2020|Ministry of Finance

The state supports sole proprietors by paying their social tax

The state pays on behalf of the sole proprietors (FIE) the advance social tax payments for the first quarter to help cope with the economic difficulties caused by the crisis. "The state will transfer the amount of the advance payment of the social security tax payable by sole proprietors in the...
26.03.2020|Ministry of Finance

The calculation of interest on tax debts will be suspended during the emergency situation

The Tax and Customs Board will suspend the calculation of interest on tax debts, to alleviate the financial situation of companies during the period of the emergency situation, retroactively from the 1st of March until the 1st of May. All declarations still must be presented on time and if at all...
26.03.2020|Ministry of Finance

The rating agency S&P confirmed Estonia's rating on the current high level

The rating agency Standard and Poor's (S&P), confirmed Estonia's long term sovereign rating at the current high level of AA and increased the rating outlook from stable to positive. The short term rating was confirmed at the current A-1+ level. The improvement of the rating outlook to...
06.02.2020|Ministry of Finance

The Government Committee on the Prevention of Money Laundering approved the Moneyval Action Plan

The meeting of the Government Committee on the Prevention of Money Laundering and Terrorism Financing, held on Tuesday, 4th of February, approved the action plan for the preparation of the Moneyval evaluation. In the fall of the year 2021, Estonia faces a new evaluation by Moneyval - the Council...
03.02.2020|Ministry of Finance

The charm and pain of crowdfunding must be taken into account

Before investing in crowdfunding, careful consideration should be given to the risks that this may entail. It should be verified, among other things, who is the service provider and the content and conditions of the concrete offer need to be examined. Crowdfunding is an increasingly popular form...
10.01.2020|Ministry of Finance

Martin Helme: fighting money laundering must be smarter

According to Minister of Finance Martin Helme, the fight against money laundering in banks must be smarter and more thought-out, so that honest companies are not affected in the process and Estonia does not lose new investments. "Countering money laundering remains one of our priorities, but today...
23.12.2019|Ministry of Finance

Estonia enhances the efficiency of the fight against money laundering

The government has approved draft changes to the Money Laundering and Terrorist Financing Prevention Act, which will significantly improve the scope of preventing money laundering. The planned changes would create protection for whistleblowers and a legal basis for creating a database of bank...
04.12.2019|Ministry of Finance

The Government Committee discussed preparations for the Moneyval evaluation

On Friday the 28th of November, at the session of the Government Committee on the Prevention of Money Laundering and Terrorism Financing, the members of the committee received an overview of the activities of the Financial Supervision Authority, the Financial Intelligence Unit and the Prosecutor's...

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