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Surety and loans from KredEx
Crisis management Surety and loans from KredEx
To improve liquidity, KredEx has developed crisis measures. It should be remembered that a company intending to use KredEx measures should first contact their home bank. Grant Thornton Baltic legal manager Kärolin Rohumäe explains what companies should do to be able to apply for the KredEx crisis packages.
30 Mar 2020
Managing your company liquidity and cash flow during a crisis
Crisis management Managing your company liquidity and cash flow during a crisis
The COVID-19 pandemic is placing companies and their management teams in a challenging situation due to the lockdowns and state of emergency established around the world. One of the most critical areas is managing the companies’ cash flows and decisions to maintain liquidity. Mikk Mägi, head of financial advisory in Grant Thornton Baltic, gives advice what should be a priority for the companies during the crisis.
29 Mar 2020
Who ensures that remote workers have a healthy working environment?
Labor law Who ensures that remote workers have a healthy working environment?
During the emergency situation in Estonia, many employers have allowed some or all their employees to work from home. Allowing people to work from home cuts the risk of contracting the virus, but also raises the question of who is responsible for providing a safe and healthy work environment for the employee. Kärolin Rohumäe, Grant Thornton Baltic's legal adviser, explains in more detail.
29 Mar 2020
Should the influence of the coronavirus be recognized in the 2019 financial statements?
Financial reporting Should the influence of the coronavirus be recognized in the 2019 financial statements?
The crisis caused by the coronavirus is coinciding with the peak season for preparing annual reports. It raises the question of whether and how aspects related to the coronavirus be recognized in the 2019 financial statements and if so, how? Grant Thornton Baltic partner Mart Nõmper gives instructions in his article.
Mart Nõmper
Mart Nõmper
| 29 Mar 2020
What can employers do to minimize losses from coronavirus?
Labor law What can employers do to minimize losses from coronavirus?
Estonia declared a state of emergency (defined in national law as “emergency situation”) on 12 March 2020 and this affects the rights and responsibilities arising from employment relationships. What steps can an employer take to slow the spread of the virus while keeping the work processes flowing, and what are an employee’s rights to refuse to come to work? Grant Thornton Baltic specialists Kristel Tiits and Lee Laanemäe give overview and suggestions on how to best deal with the current situation.
Kristel Tiits
Kristel Tiits
| 18 Mar 2020
How to protect copyright in employment relationships?
Intellectual property How to protect copyright in employment relationships?
In simple terms, copyright is the right over intellectual property. Copyright is gained automatically and requires no separate registration or other completion of formalities. Grant Thornton Baltic specialists Kristel Tiits and Lee Laanemäe are explaining the details in depth in their article.
17 Mar 2020
Want total certainty? Ask for advice!
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.
08 Feb 2019
8 reasons to outsource payroll
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.
10 Jan 2019
New rules on VAT will simplify e-commerce
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.
20 Dec 2018
Estonian companies prefer outsourcing payroll
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.
11 Dec 2018
Why manage people instead of money and financial results?
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.
11 Dec 2018
How to acquire a company so you won’t regret it later?
Mergers and aquisitions How to acquire a company so you won’t regret it later?
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.
10 Dec 2018
The overlooked side of employer branding
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.
10 Dec 2018
United Motors to acquire Peugeot and Hyundai distributor
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.
10 Dec 2018
Is the workload for accountants rising again?
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.
07 Sep 2018
Taxation of the digital economy still unclear
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.
Kristjan Järve
Kristjan Järve
| 06 Sep 2018
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