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Payroll service
Grant Thornton Baltic's payroll service received an international award
Grant Thornton Baltic is proud to be a local payroll partner of ADP in Baltic countries and been named as one of the winners for the 2018 Partner Excellence Award.
Data Protection
The General Data Protection Regulation – five months of chaos!
25 October will mark five months since the entry into force of the General Data Protection Regulation . There was much confusion before that. Companies wondered whether employees’ birthdays could be printed out and tacked to the wall in the break room. Maybe Christmas presents could no longer be given to employees’ children because that, too, would require the children’s personal data to be “processed”.
Business
Why manage people instead of money and financial results?
It is extremely important for managers to pursue self-improvement. As the saying goes: a fish starts rotting from the head. Unfortunately, managerial culture in Estonia is not at a level we can be satisfied with. We have many companies where money and financial results are managed but where the people are not. Actually, instead of money and results, it’s people who should be managed. If so, the good results will not be long in coming.
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Company operations What if your accountant isn’t working a few cubicles away?
In the business world, success comes from focusing on your field and working your way to the top. But that takes time and dedication. So if you are just going into business or expanding, it is wise to think about what sorts of support services are worth outsourcing – what happens if your accountant or computer person is not sitting in the next room but works for an external service provider?
International expansion The formula for rapid growth
Estonian entrepreneurs will develop an opportunity to grow significantly only if they are able to expand to foreign markets, says Kuldar Väärsi, the CEO of defence contractor Milrem Robotics.
Women in Business 2019 The ice has finally started moving
Spring is an appropriate time to talk about ice starting to break up. In this article, however, the ice means women, and the perspective is that the share of women in top management of the world’s companies is finally seeing brisk growth.
Growing together A very successful year for Grant Thornton
The last financial year was the best in the last six years for Grant Thornton: turnover for our company operating in more than 130 countries grew by nearly 10%, reaching 5.45 billion dollars. We have 52,686 employees, and their numbers were up 6.3%.
International Business Report A new crisis or the new normal?
World economic growth is slowing and it’s clear that this year will not be as good a year in the global economy as was last year. The results of a recent study show that companies' optimism regarding business success is slipping.
E-commerce Untapped opportunities for Estonian online sellers
Goods and services are purchased constantly online in Estonia, yet our online retailers have untapped potential – we are lagging a bit behind the European Union average in cross-border online retail. It is worth putting more effort into sales of electronic goods and services to consumers in other member states, especially given that the European Commission has and will continue to simplify cross-border e-commerce, including changes in the tax system.
MERGERS AND AQUISITIONS Want total certainty? Ask for advice!
Hundreds of companies are bought and sold each year in Estonia. In the case of bigger transactions, relying on assistance from transaction advisers has become the norm, although for the sake of total certainty, it’s a good idea to bring aboard an adviser even on smaller acquisitions.
Changes to Commercial Code Changes to Commercial Code make doing business easier
On 1 January 2019, changes to the Commercial Code came into force, intended to resolve a few problems that have reared their heads in practice.
Occupational Health and Safety Act Occupational safety obligations of employer are getting a bit easier
Amendments to the Occupational Health and Safety Act that came into force on 1 January 2019 will lead to a decrease in the administrative burden on employers.
Employment register Changes in employment register filings
2019 has brought several changes to the process of filings made to the employment register. Besides the data currently required, now the working time rate, job title and workplace address must generally be specified.
INF 14 It is time to submit the INF 14 parts I-III!
Form INF 14, which needs to be submitted to the Tax and Customs Board, consists of several parts with different submission terms, the first of which is on 1 February 2019.
Tax changes Key changes in tax legislation in the Baltics in 2019
In the beginning of the year, several tax changes were introduced in Estonia, Latvia and Lithuania. Some of the changes will become effective in 2019. In addition we shall highlight tax rates applicable in the Baltics as of 2019.
Payroll service Grant Thornton Baltic's payroll service received an international award
Grant Thornton Baltic is proud to be a local payroll partner of ADP in Baltic countries and been named as one of the winners for the 2018 Partner Excellence Award.
Payroll service 8 reasons to outsource payroll
Below we list eight main reasons why companies prefer outsourcing payroll operations instead of a dedicated in-house department.
E-commerce taxation New rules on VAT will simplify e-commerce
The European Union has adopted new rules on VAT that will simplify and facilitate e-commerce. The rules will come into effect in full on 1 January 2021, but companies that provide electronic services will be able to benefit from the rules already starting 1 January 2019.
Leadership and coaching Why manage people instead of money and financial results?
It is extremely important for managers to pursue self-improvement. As the saying goes: a fish starts rotting from the head. Unfortunately, managerial culture in Estonia is not at a level we can be satisfied with. We have many companies where money and financial results are managed but where the people are not. Actually, instead of money and results, it’s people who should be managed. If so, the good results will not be long in coming.
Payroll service Estonian companies prefer outsourcing payroll
More and more Estonian companies have ceased to perform their own payroll functions but rather outsource it to a service provider. The reason for this is the fact that payroll takes a lot of time and requires use of updated software and it also takes a knowledge of frequently changing laws.
Employer branding The overlooked side of employer branding
Although employer branding is seen as mainly the domain of personnel and marketing people, it isn’t only their function. Managers have just as important a role here, because it is managers who can leave employees with a good experience of the organisation as employer. Or the opposite – a negative experience, because Estonia has many organisations that have a substandard managerial culture and instead of leading people, they’re busy managing money and processes.
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