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26.08.2016|Ministry of Finance

Cabinet eases tax rules on share options

At today’s meeting, the Cabinet discussed the proposal submitted by the Ministry of Finance to change the taxation of share options in the event of sale of the business. The taxation of share options will be made more flexible in cases where the entire business is sold to a new owner.
13.05.2016|Ministry of Finance

Sester: EBRD focuses on different needs of countries

The action plan of the European Bank of Reconstruction and Development (EBRD) for the next years, which focuses on emerging countries and economic growth, was approved at the bank’s annual meeting held in London from 10 to 12 May. Suma Chakrabarti was elected the president of the bank again.
21.03.2016|Ministry of Finance

Authorised Public Accountants Act amendments to reduce administrative burden

The Ministry of Finance has issued a draft act amending the Authorised Public Accountants Act and other acts to be circulated for approval, reducing the administrative burden for both the private and the public sector.
09.03.2016|Ministry of Finance

Georgia to Follow the Example of Estonia’s Tax System

Georgian Ambassador presented to Minister of Finance Sven Sester Georgia’s plan to take over the corporate taxation system similar to that in Estonia, i.e., to establish tax exemption on corporate reinvested profits.
17.02.2016|Ministry of Finance

Estonia has made all government sector’s accounting data available as opendata

In 2011 all local goverments’ accounting data was made available as opendata. Since the beginning of the 2016 all government sector’s accounting data has been added to State Finances application (riigiraha.fin.ee). It includes central government, NGO-s, enterprises, foundations and social security...
11.02.2016|Ministry of Finance

Economic growth stabilised in Q4

Madis Aben, analyst at the Fiscal Policy Department, Ministry of FinanceAccording to Statistics Estonia, the gross domestic product of Estonia increased by 0.7 per cent on a year-on-year basis in Q4 last year. The modest speed of growth is similar to the previous quarter and does not correspond to...
08.02.2016|Ministry of Finance

Estonia’s tax revenues increased by 7.3 percent last year

According to the Ministry of Finance, the state received revenues in the amount of 7.98 billion euros, which is 171.3 million euros more than last year. In comparison to 2014, the state tax revenues increased by 483.1 million euros or by 7.3 percent.  
25.01.2016|Ministry of Finance

Estonia will adopt an accrual-based state budget

The Ministry of Finance will prepare the draft state budget for the next year on an accrual basis, which is more reliable than the current cash-based budgeting and gives a better overview of how cash is used.
06.01.2016|Ministry of Finance

Important legal amendments of the Ministry of Finance that enter into force in 2016

The new Accounting Act will enter into force in the new year, which establishes simpler requirements for the preparation and publication of annual reports by micro and small companies. Micro companies will only be required to prepare main reports: a short balance sheet with the mandatory rows...
06.01.2016|Ministry of Finance

Ministry of Finance plans to draft a Covered Bonds Act

The purpose for the development of the draft of the Covered Bonds Act is to create a legal environment in Estonia that would allow banks to issue covered bonds.

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