Insights

Business risk management Six important questions about whistleblowing

The so-called Whistleblower Protection Act has raised many practical questions. Here are some of the most common questions that have been asked by clients of Grant Thornton Balticand the answers of our specialists.

Kristina Mjasojedova Grant Thornton Baltic

| 11 min read | 09 Mar 2022

Women in Business Opening the door to diverse talent

In 2022, Grant Thornton’s Women in Business research has once again tracked the position of women in senior management across the world, and the progress towards gender parity in leadership.

1 min read | 07 Mar 2022

Income tax Some useful advice on declaring income

Starting 15 February, personal income tax returns can be filed; for many people, this process is associated with receiving tax refunds. A tax return must also be filed if a person has earned income on which income tax is not withheld (such as earnings from abroad, capital gains from alienation of property) or withholding has not occurred. A tax return must also be filed if the person desires to eliminate double taxation – i.e., if the same income was taxed abroad as well as in Estonia.

Urzula Välb

| 11 min read | 02 Mar 2022

Case study Grant Thornton Baltic provides support for Airobot’s public market debut

Grant Thornton Baltic was recently again able to contribute to a market debut for an Estonian company: our auditors conducted a financial audit of a producer of high-tech ventilation systems, Airobot Technologies, which as of 10 February is listed on Nasdaq First North.

1 min read | 22 Feb 2022

Sustainability COP26 provides a turning point for mid-market companies

COP26’s goal was to deliver radical change to save our planet. In the long term, there are good reasons to be hopeful.

Less than a minute | 22 Feb 2022

Sustainability Towards a sustainable business

Sustainability is receiving increasing attention in both business plans and the speeches of politicians. Grant Thornton also focuses on sustainability issues in advising organizations and we are happy to share our experiences and thoughts with you.

Less than a minute | 22 Feb 2022

Sustainability Creating competitive advantage through sustainability

The mid-market’s real prioritisation of sustainability not only reflects the growing expectation of stakeholders but the forward-thinking nature of this entrepreneurial segment. But few companies have made significant progress and many still face significant barriers.

1 min read | 22 Feb 2022

Labor law The ABCs of hiring a new employee

Employers have to deal with three important aspects that lead to an employment relationship between employer and employee: job interview, pre-contractual negotiations and background checks (the last of these, of course, with employee consent).

Uljana Feldman

| 6 min read | 14 Feb 2022

Grant Thornton Baltic saade Kasvukursil Äripäeva raadios

Transaction advisory The experience of a businessman who sold his life’s work: how to get top dollar from the Chinese

A businessman who started a company in Estonia even before the country had regained independence, Kevin Probert-Ehaver, recently sold his life’s work – the three Baltic companies in BK Group – to a major Chinese corporation, Hikvision. The transaction proved more complicated than planned, but in the end he managed to negotiate a price that was triple what was originally offered.

Kristjan Järve

| 5 min read | 10 Feb 2022

Case study Good work gets deserved recognition

The auditors of Grant Thornton Baltic audited the 2020 IFRS annual report of the public interest entity UPP Olaines OÜ consolidation group.

1 min read | 26 Jan 2022

Global economy Keeping hand on the global business pulse

After leaping back strongly from the darkest days of the pandemic, the global mid-market could only manage a small additional step forward in the second half of 2021, as tracked by the Global business pulse, Grant Thornton’s index of health among mid-sized companies. At 1.2, the index score is now within sight of pre-COVID health levels (3.4), but there is still some way to go for a full recovery.

1 min read | 26 Jan 2022

Whistleblowing Changing the perception of whistleblower as martyr means new obligations for companies

A whistleblower has to feel safe in order to have the courage to start shining the light on problem areas in an organization. An EU directive soon to come into force imposes specific requirements on companies to ensure that those who point out problems would not end up like martyrs.

Kai Paalberg

| 7 min read | 24 Jan 2022

Tax Key changes in tax legislation in the Baltics in 2022

In the beginning of the year, several tax changes were introduced in Estonia, Latvia and Lithuania.

1 min read | 20 Jan 2022

Meet your auditor A sworn auditor who seeks challenges and excitement at work and leisure

Conversing with Tarmo Rahkama, his desire for challenges and excitement quickly becomes plain. He talks passionately about his career as a sworn auditor, doing packaging audits and being a track and field (athletics) umpire. The conservation also swings to the subject of the best recent theatre productions and tennis.

7 min read | 19 Jan 2022

Data protection Know the rules for video surveillance

Video surveillance is used on streets, vehicles, shops, offices – pretty much everywhere. Whenever anyone leaves home – and as soon as they close the door behind them – they can wind up on someone else’s camera footage. Even when hiking in the woods, it’s possible to be captured by a wildlife camera.

7 min read | 19 Jan 2022

Tax VAT reduction possible on bad debts from 2022

From 1 January 2022, the Estonian Value-added Tax Act will have a new section, 291, setting forth the conditions on the basis of which taxable persons can reduce their tax liability on bad debts. This is a long-awaited addition to Estonian tax law that has previously been discussed but has not gone beyond the draft legislation stage.

Jaana Sild

| 3 min read | 17 Jan 2022

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