A complete selection of TAX Newsletters
January 2011
August 2010
TAX newsletter's August edition includes:
- an overview about the changes made to the Social Tax Act and several draft acts (amendments to the Funded Pensions Act and incorporation of the accounting guidelines by the Accounting Standards Board to the Accounting Act);
- an overview on OECD updated guidelines and recent Estonian Supreme Court decision on VAT matters as well as using a voluntary reserve to make the owner's equity compliant with requirements.
June 2010
This edition of our tax newsletter includes:
- overview of planned changes to the Local Taxes Act: abolishment of local sales tax and boat tax
- reinvested profits tax exempt also for private individuals
- planned amendments to the VAT Act
- traders entitled to announce final price of goods at the cashier's
- new social security regulation in the EU
- retailers required to display prices in the kroons and the euros
- Supreme Court ruling: buyer's diligence requirements in purchase transactions
May 2010
This edition of our tax newsletter includes:
- summary of legal changes related to the adoption of the euro
- overview of amendments to the Tallinn sales tax regulation
- introduction of new excise duty for plastic bags
- review of planned changes to the Income Tax Act as of 1 January 2011
- analysis of the court ruling allowing foreign investment funds to claim back withheld income tax for tax years 2007 and 2008 (case Fidelity Funds vs. Estonian Tax and Customs Board)
March 2010
The latest edition of our newsletter points out:
- two draft laws (more favourable tax approach on stock options and planned changes to the Taxation Act);
- presents an overview of the new Authorized Accountants Act;
- reminds the obligation to submit informative notice about car benefits;
- delivers information about the areas with high likelihood of tax audits (according to the press release of the tax authorities).
The following court rulings are introduced:
- leasing companies entitled to deduct VAT on repair costs;
- excessive state fee contradicts the Constitution;
- rules for restricting business activity.
February 2010
- The Commercial Code amendment draft law sets forth loosened requirements to the foundation documents, reduces auditor involvement, abolishes pre-emption rights and fixed-term board membership, and introduces a subordinated loan concept. Additionally, a possibility to establish a limited liability company without any obligatory contribution upon establishment is planned.
- The Income Tax Act amendment draft law (180 SE) exempts reinvested profits of private investors by introducing an investment account principle - capital gains transferred to such account are taxed only when taken out.
- The Social Tax Act amendment draft law proposes an exception from minimum social tax obligation if a person who has been unemployed for at least 9 months is hired to work on a part-time basis. Current regulation demands social tax to be paid from a fixed amount of EEK 4,350, notwithstanding the actual salary. The amendment should favour creation of new part-time jobs.
- The Supreme Court ruling No 3-3-1-74-09 explains the tax consequences of non-fulfilment of diligence requirements.
January 2010
- How to apply for VAT refund from abroad?
- New requirements for reporting intra-Community supplies.
- VAT grouping.
- Estonia concluded tax treaties with Macedonia, Israel and the Isle of Man.
- Amendment to the Gambling Tax Act enforced.
- How does the European Union Services Directive Implementation Act impact provision of services in another Member State?
- How to submit annual reports?
- How to apply for salary support from the Unemployment Insurance Fund?
- Latest tax cases in the Supreme Court.
