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Experience: a working group dedicated to supporting values-based corporate culture
Company culture Experience: a working group dedicated to supporting values-based corporate culture
Where to start if your company doesn’t have a human resources director and HR policy, and on top of it, has a negative employer net promoter score? Grant Thornton Baltic’s HR director Marge Litvinova and recruiter Kätlin Treima share some valuable experience.
7 min read | 03 May 2024
Mart Nõmper
Assurance A good auditor: ever harder to find
Business operators are hard-pressed to find an auditor to go over their annual report, since there are fewer and fewer auditors every year, but the amount of work just keeps on growing. The worsening quality of the work done by auditing companies is also a concern.
Mart Nõmper
Mart Nõmper
| 5 min read | 11 Apr 2024
Eve Lille Grant Thornton Baltic
Tax Is the logic of transfer pricing in place and is documentation updated?
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.
Eve Lille-Tõns
Eve Lille-Tõns
| 4 min read | 08 Apr 2024
A compassionate employer also looks after employees’ mental health
Company culture A compassionate employer also looks after employees’ mental health
All of us have a work life and a private life, and no matter how we try, it is hard to keep them completely separate. Problems at work come home with us and vice versa. That is the underpinning for my belief that an employer who genuinely cares about its people will see investing into maintaining mental health as an investment in its employees.
Marge Litvinova
Marge Litvinova
| 5 min read | 08 Apr 2024
E-residents run up against obstacles applying for a new digital ID
Legal E-residents run up against obstacles applying for a new digital ID
Many foreign nationals doing business in Estonia recently received an unpleasant surprise: they are unable to submit their annual report for their company to the Business Register, since they failed to renew their digital ID by the deadline. Meanwhile, the Estonian Police and Border Guard Board (PPA) has imposed additional conditions on applying for a new digital ID.
Uljana Feldman
Uljana Feldman
| 2 min read | 28 Mar 2024
Kasvukursil töölepingu lõpetamine
Labor law Yes, employment contracts can be terminated extraordinarily via Messenger
The most important aspect of extraordinary cancellation of an employment contract is that the notice has to be reproducible in writing. The employee should thus be precise in their wording, and the employer should be quick to respond.
Marge Litvinova
Merli Kesküla
| 6 min read | 28 Mar 2024
Two women in the office
Payroll Estonian businesses prefer outsourcing payroll
More and more Estonian companies prefer to outsource payroll functions rather than have a staff position. The reason is that it’s a time-consuming job and requires use of the latest software and keeping up to date with frequent changes to legislation.
Gaily Kuusik
Gaily Kuusik
| 4 min read | 19 Feb 2024
Mart Nõmper
Assurance How to meet equity requirements established by law?
When closing a financial year, it can turn out that a company’s equity (net assets) does not meet the requirements set forth in legislation and so the equity must be brought into conformity with the law. Often auditors and lawyers receive queries about these topics, but their perspectives can sometimes vary.
Mart Nõmper
Mart Nõmper
| 5 min read | 12 Feb 2024
Eliis Mets
Legal Unexpected situations in the business world, with no quick solutions
As in life itself, the unexpected often strikes in the business world. The article deals with one such scenario that many probably have never thought of.
Eliis Talisainen
Eliis Talisainen
| 6 min read | 09 Feb 2024
Eve Lille and Arnold Vahtra
Financial advisory Financial forecasting as a key managerial tool
The need to prepare financial forecasts can arise in various situations. In the artocle we will give examples of some of the most common situations where the company's management has to undertake the preparation of forecasts.
Eve Lille-Tõns
Eve Lille-Tõns
| 7 min read | 01 Feb 2024
Jelena Leoško
Business Process Solutions What to consider in choosing accounting software?
Estonia has about 150,000 businesses engaged in economic activity – that means each one of them ought to have accounting software or some other way of keeping accounts.
Jelena Leoško
Jelena Leoško
| 4 min read | 23 Jan 2024
Kalender Grant Thornton Baltic
Financial year In what cases is it worth choosing a financial year that is different from the calendar year?
According to the registrar's statistics, 95% of companies registered in Estonia have chosen a financial year that runs from 1 January to 31 December. However, a company’s fiscal year should reflect the cycle of the company’s operating activity and year-end procedures should be conducted at a time when volumes of activity are lowest.
Mart Nõmper
Mart Nõmper
| 4 min read | 22 Jan 2024
Eve Lille Grant Thornton Baltic
Transaction advisory Five reasons to halt transactions
There are always various different factors that might put the brakes on a transaction or cause us to entirely abandon it. Such factors may manifest at any stage of a transaction depending on how transparent the communication between the parties has been during the transaction process.
Eve Lille-Tõns
Eve Lille-Tõns
| 6 min read | 11 Sep 2023
Estonia is at the forefront of the world's crypto scene
Crypto Estonia is at the forefront of the world's crypto scene
Estonia has emerged as a global frontrunner in facilitating crypto asset services, offering a highly conducive environment for virtual asset service providers (VASPs) to thrive. With its forward-thinking legislation, favorable tax regime, streamlined licensing process, and vibrant fintech ecosystem, Estonia has positioned itself as a go-to destination for crypto-related businesses seeking a competitive edge.
4 min read | 14 Jun 2023
Grant Thornton Baltic saade Kasvukursil Äripäeva raadios
credit control Golden age for fraud: red flags help recognize the no-goodniks
It is currently a golden era for fraud but harm caused by bad actors is preventable if you regularly perform checks on business partners and clients and keep alert to specific warning signs, panellists on the Äripäev business daily radio programme “Kasvukursil” said.
Mart Nõmper
Mart Nõmper
| 5 min read | 09 Jun 2023
Changes to sickness benefit, working time and minimum wage
Labor law Changes to sickness benefit, working time and minimum wage
A number of changes will soon take place in labour law, with direct implications for everyday life in the workplace. The changes pertain to employees’ rights and benefits.
4 min read | 09 Jun 2023
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