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Below we list eight main reasons why companies prefer outsourcing payroll operations instead of a dedicated in-house department.

This year, a number of large-scale purchase and sale transactions have provided much fodder for discussion in the media – Nelja Energia, Luminor and Utilitas are three examples. The large transactions always stand out, but this year has seen many mid-sized and small company acquisitions as well.

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.

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.

Grant Thornton has released a new guide to help international entrepreneurs navigate transfer pricing regulations in different countries.

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.

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.

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.

According to the GDPR people have right to query data processors about the data they hold about them. People have right to ask what data a processor holds about them, for what purpose and what is done to the data. They also have a right to rectify and erase data. Data processor is obliged to reply within 30 days of the request being made to comply with the regulation.

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.

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.

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.

Reminder: main changes in tax legislation in 2017

Major changes in tax legislation in 2018

On 1 January 2018, a new Labour Dispute Resolution Act (hereinafter referred to as TVS by its Estonian acronym) will enter into force, supplanting the Individual Labour Dispute Resolution Act (hereinafter ITVS) in force up to 31 December.

Handling cash – requirements that tend to be forgotten