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Obligation to disclose data regarding beneficial owners
From the 1st of September 2018, all Estonian companies will be required to submit data on their beneficial owners to the Commercial Register of Estonia.
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”.
Entrepreneurship
United Motors to acquire Peugeot and Hyundai distributor
United Motors has purchased the distributor of Peugeot and Hyundai in Estonia. Grant Thornton Baltic provided advisory services for the transaction.
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Case Study United Motors to acquire Peugeot and Hyundai distributor
United Motors has purchased the distributor of Peugeot and Hyundai in Estonia. Grant Thornton Baltic provided advisory services for the transaction.
Amendments to the Taxation Act Is the workload for accountants rising again?
Next year, amendments to the Taxation Act are expected to enter into force. One of the amendments calls for more data to be added to the employment register, which will however increase the workload for accountants.
Digital taxation Taxation of the digital economy still unclear
International commerce is increasingly digital. But the global taxation system is still aimed at traditional “brick and mortar” needs. The action plan of the OECD’s package of measures to combat base erosion and profit shifting (BEPS) acknowledges the need for modernisation. This has been partly achieved after the BEPS Action Plan was released in October 2015.
GDPR 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”.
International taxation New guide on transfer pricing
Grant Thornton has released a new guide to help international entrepreneurs navigate transfer pricing regulations in different countries.
IBR It can’t get any better
This year is the point where the economy peaked – it can’t get any better. We already see economic growth tapering off in Estonia, the EU and elsewhere. But will we lose our footing as we slide downhill or will we be able to softly glissade down the easy slopes?
Money Laundering and Terrorism Financing Prevention Act Obligation to disclose data regarding beneficial owners
From the 1st of September 2018, all Estonian companies will be required to submit data on their beneficial owners to the Commercial Register of Estonia.
GDPR 5 steps to company's GDPR compliance
The date when the General Data Protection Regulation (GDPR) entered into force, May 25th, came and went with many companies still unsure about what needs to be done to be compliant with the GDPR.
GDPR Why is it good to map data and create a data inventory
For the long time the protection of personal data did not receive quite as much attention from the legislators. This changed with the European Union General Data Protection (GDPR) coming in force on May 25th, 2018.
Money Laundering and Terrorism Financing Prevention Act Obligation to publicly disclose beneficial owners of companies
In September, a new amendment to the Money Laundering and Terrorism Financing Prevention Act will enter into force, requiring companies to disclose data on their beneficial owners.
Women in business Gender balance and other ways of increasing diversity
In the last few decades, the topic of female executives has received consistent attention in the industrialised West.
Changes in Commercial Code Two addresses for Estonian companies managed from abroad
Starting 15 January 2018, Estonian companies managed from abroad will have the obligation to designate a contact person. That means all Estonian companies whose management board is located abroad must appoint an Estonian-based contact person.
Employment Contracts Act A reminder about preparing holiday schedules
By the end of the first quarter – 31 March – all companies must draw up and communicate to employees a holiday schedule for the current year.
International Business Report Party in 2018, hangover in 2019?
Businesses both in and outside Estonia are very optimistic about this year’s outlook. But I recommend taking the rose-coloured glasses off and committing to making investments this year in order to improve effectiveness.
Estonian Service Industry Association Grant Thornton Baltic helping to make Estonia more successful
In December, Grant Thornton Baltic’s partner, certified sworn auditor Aivar Kangust was elected member of the supervisory board of the Estonian Service Industry Association.
Press release New global CEO Peter Bodin takes office
Grant Thornton celebrates key milestones as global CEO Peter Bodin takes office and global revenues pass USD5 billion as network grows to 50,000 people
General Data Protection Regulation Data protection requirements will change, no need to panic
The new General Data Protection Regulation will enter into force in May 2018. That makes now the last time for public sector organisations, private sector companies and NGOs to start to evaluate whether and what changes they need to make in their personal data management systems – in other words, to carry out a compliance assessment.
the Commercial Code Estonian companies managed from abroad must designate contact person
Effective 15 January 2018, an amendment to the Commercial Code comes into force requiring all Estonian companies whose management board is located abroad to appoint a contact person in Estonia.
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