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Transfer pricing is often talked about solely in a tax accounting context but actually determining transfer price requires the existence of a strategically good budgetary and cost accounting system in managerial reporting. If a company has designed a detailed, adequate cost accounting system, a key precondition for shaping transfer prices has been met, especially when it comes to transactions related to goods and services where a clear cost base is even more important than mark-up.

Starting on 1 October 2023, amendments come into force under which construction contractors must register the construction site and contracting chain in the Tax and Customs Board’s subcontracting chain and working time information system.

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

In 2023, the German family company Bodo Möller Chemie bought the distribution rights of the brands Loctite, Teroson and Technomelt from Henkel and established a subsidiary Bodo Möller Chemie Baltics OÜ to deal with the resale of Henkel's adhesives and sealants in the Baltics. The founding of the subsidiary was advised by Grant Thornton Baltic.

In November 2023, Grant Thornton Baltic was certified with ISO 27001:2022 by Bureau Veritas, confirming that we identify, assess and manage security risks relating to information systems on an ongoing basis and in accordance with the requirements outlined.

Grant Thornton Baltic's consulting team advised the management of Inspecta Estonia OÜ on the acquisition of Metrex Mõõtekeskus OÜ.

Spring is here, which means it’s the time that many companies reporting their financial results have made the decision to pay out dividends. This brings up a number of questions for management and financial teams. We try to answer the most frequently asked ones below.

From January 1st, 2023, chapter 24 of the Tax Information Exchange Act entered into force, according to which platform operators must provide information about the sellers and service providers using the platform and the income earned by them to the Tax and Customs Board.

On March 20th, 2023, Ministry of Finance of Lithuania revealed proposals on tax reform, to be submitted to Parliament early May, to enter into force from the year 2024 (if adopted).

Grant Thornton Baltic's transaction advisory team helped OÜ Rannu Seeme develop the conditions for the exit of the partner, including advising on the execution and formalization of the transaction.

For Grant Thornton Baltic OÜ, the 2021/2022 season in Estonia was very successful - our turnover increased by 24% compared to the previous financial year. The impressive growth took us to the second place in the ranking of auditing companies compiled by business newspaper Äripäev.

If an employer gives an employee a share in the employer’s business or a company in the same group as the employer’s business at a discounted price or for free, this constitutes a fringe benefit.

In the spring and summer of 2022, Fourings OÜ, which brings together companies engaged in the sale and maintenance of Audis in Estonia, sold a 50 percent stake to the investment company UG Investments.

In August 2022, Grant Thornton Baltic concluded a financial and tax due diligence for an Estonian start-up company Qualitista.

Experts say that activity on the transactions market has returned to previous levels in contrast to the slump in the spring, but it should be remembered that more restrictive conditions are added to contracts in hard times.

The Nordic venture capital fund Inventure invested 11.6 million euros in the Estonian startup Jobbatical in 2022.