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Companies that sell physical goods to European countries all too often have to grapple with the destination country’s complicated VAT system, but in summer 2021, the situation will become simpler and the administrative expenses related to declaration of taxes will decrease.

The Ministry of Environment recently weighed in on packaging audit requirements. This topic pertains in particular to packaging undertakings who have already filed a packaging report for 2020 with the packaging register.

In the beginning of the year, several tax changes were introduced in Nordic-Baltic region. In addition we shall highlight tax rates applicable in the Nordic-Baltic region as of 2021.

The OECD (Organisation for Economic Co-operation and Development) regularly updates its 2017 transfer pricing guidance. It is worth keeping up to date with the OECD guidelines because transfer pricing regulations in Estonia and many other countries rely on the OECD’s guidelines.

A new guide has been produced by the Auditors’ Association and the Ministry of Finance for public sector entities conducting procurements for audit services. The manual can also be useful for private sector companies.

Analysis of the correctness of data in the Commercial Register uncovered an astonishing fact: the Commercial Register data on auditors of companies contained many mistakes.

The accounting and preparation of packaging reports has become better over the years and the awareness of the importance of accounting more but there are still shortcomings in packaging reporting.

Grant Thornton partner and head of outsourcing Anastasia Borovaja has been working for more than 10 years to ensure that her day-to-day work offers an unforgettable customer experience and high-quality service while the company is also seen as an attractive employer.

The sudden surge in remote working, online shopping, digital health and virtual learning boosted demand for business technology and communications solutions. At first glance, the future of technology companies may seem cloudless, but in fact, many of them predict that customer orders will decrease in the future. Find out, what challenges the technology sector is facing in the near future:

Store data correctly and securely, and more importantly, use the data the same way, and you might well find that the benefits easily exceed any direct monetary gains. An expert explains how to make maximum use of data for turning a profit.

The coronavirus restrictions have put many employers in a very difficult situation. When turnover is down, it’s time to analyse what would lead the company through the difficult times – applying for a new salary compensation from the government, temporary pay cuts, leave or layoffs.

The coronavirus crisis, which started a little more than a year ago, changed quite a few things in employment relationships. One of the most important changes has been the widespread use of working from home offices. Provided that the nature of the job had some degree of compatibility with the format, employees were allowed to work remotely by companies and organisations where this had not previously been the practice.

The representatives of the board of the Auditors’ Association met Secretary General of the Ministry of Justice Tõnis Saar and Deputy Secretary General of the Ministry of Justice Viljar Peep in February on the topic of developing the Commercial Register and updating register data.

Grant Thornton Baltic conducted a survey among companies to find out how many of them are consciously and purposefully engaged in anti-money laundering. Look into the results and test your company!

Grant Thornton Baltic’s audit partner Aivar Kangust, who has been a sworn auditor for almost 30 years, points out that while indeed an audit probably wouldn’t benefit a small business very much, directors of small businesses should really be more inclined to ask for advice from auditors and business consultants – no one can possibly know everything, but it’s always good to talk to someone who does know.

In January and February 2020, Grant Thornton Baltic conducted a financial and tax due diligence for the Kyyrix OÜ, which has almost 30 years of experience in providing professional cleaning services in Tartu.