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06.06.2019|Ministry of Finance

Senior Budget Officials from OECD countries meet in Tallinn

This week, senior budget officials from member states of the Organisation for Economic Co-operation and Development (OECD) met in Tallinn for their annual meeting of their international network. On 5-6 June, the OECD holds its 40th annual meeting of Senior Budget Officials (SBO) in Tallinn,...
31.05.2019|Government Office

Government approves new state budget strategy, budget discussions set to continue in the autumn

The government has approved the state budget strategy for the period 2020–2023. The combined volume of the state budgets is planned to be slightly more than EUR 48.5 billion over the next four years. In 2020, the volume of expenditure will be around EUR 11.7 billion. This is approximately EUR 500...
30.05.2019|Ministry of Finance

Draft legislation on stricter requirements for virtual currency activity licences passes first reading in parliament

The Estonian parliament has passed the first reading of a draft law that constricts regulations of issuing the activity licences of virtual currencies to service providers who purchase and sell virtual currencies as well as provide virtual wallet services. According to Minister of Finance Martin...
19.03.2019|Ministry of Finance

Anti-Money Laundering Centre for Strategic Surveillance and Analysis to be Established

The Government Anti-Money Laundering Commission decided that a centre for strategic analysis operated by the Financial Intelligence Unit is to be established. The Government Commission assembled on 18 March to discuss the proposals developed by expert working groups on the basis of...
28.02.2019|Ministry of Finance

Tõniste: Risk Assessments of Special Committee and Government Commission Coincide

The Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance of the European Parliament (TAX3) approved its recommendations for the achievement of a more honest and effective tax environment. The draft report, which will be submitted to the plenary session of the European Parliament...
11.02.2019|Ministry of Finance

European Parliamentary Committee Visits Anti-Money Laundering Institutions in Estonia

Estonia was visited by representatives from the European Parliament Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3) on a fact-finding mission on the developments in countering money laundering in Estonia and the circumstances of the Danske Bank case. Members of the Special...
08.11.2018|Ministry of Finance

Statement by the Ministry of Finance Regarding the EC Reasoned Opinion

The Ministry of Finance of Estonia is of the opinion that Estonia has transposed the fourth AML Directive completely into Estonian law. We have received the Reasoned Opinion of the European Commission and will respond to it within the given two-month period. In our response we will detail how the...
25.10.2018|Ministry of Finance

The submission deadline of data regarding beneficial owners is October 30

Companies, non-profit associations and foundations must submit data regarding their beneficial owners by next Tuesday, 30 October. “Increased transparency of the business environment certainly benefits the whole of Estonian economy. Information regarding beneficial owners enables to determine...
22.10.2018|Government Office

Estonian Government Commission Proposes New Measures on Fighting Money Laundering

The Estonian Government Anti-Money Laundering Commission discussed this week new proposals on how to further strengthen the prevention of money laundering. The Head of the Commission, Finance Minister Toomas Tõniste said that one initiative that they are proceeding with is a draft law on reversing...
06.07.2018|Ministry of Finance

EBRD to invest €20 million in Baltic infrastructure

The European Bank for Reconstruction and Development (EBRD) commits to invest €20 million into the BaltCap Infrastructure Fund (BInF). The President of EBRD, Sir Suma Chakrabarti signed the agreement today during a signature ceremony held at the Ministry of Finance of Estonia in Tallinn. With...

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