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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.

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.

In the last year, the volume of assets and sales income of many companies have increased, but this has not necessarily resulted from the increase in the volume of operations, but from inflation. Therefore, these companies have exceeded the threshold of the auditing obligation, and due to the previous large volume of work, the auditors have also had to leave many clients at the door.

“Our partnership with Grant Thornton Baltic’s internal auditors started in 2016 and it’s clear we hit the nail on the head with our selection,” says CEO of Primero Finance OÜ, Marti Küttis.

Gaily Kuusik, head of Grant Thornton Baltic's business process solutions, gives an overview of the legislative amendments that have already come into effect or will soon come into effect.

The current head of Grant Thornton Estonia’s business process solutions, Gaily Kuusik has crossed paths with the company several times, in two decades and two different jobs. As a young tax specialist at the start of this millennium, she came to work for the company soon after university, but she joined Grant Thornton again in 2021, now much more experienced, as the head of customer relations.

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.

There’s consensus among business people who are required to order an audit, review or other audit engagement: it is hard to find an auditor and the prices of audit services have risen significantly.

At Grant Thornton Baltic, we offer payroll as one of the accounting services and it can be described with just those above notions: automated, meticulous, accurate, confidential and adaptive to changes.

Often people neglect to consider that the same key interest rate affects not only businesses' loan capability and finances but also taxation.

From 01.01.2024, the Employment Contract Act will undergo several changes in the wording of the provisions, which are due to changes in the Family Act.

According to a global survey International Business Report, mid-market businesses consider inflation, cyber-attacks, and economic slowdown to be the main business risks.

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

International wholesaler of cosmetics, perfumes, salon products and non-prescription medicines Sirowa acquired well-known Estonian wholesaler of perfumery and beauty products.

According to the draft of the new Cryptocurrency Market Act, the Financial Supervision Authority will become the supervisory authority, and the administrative burden on market participants will increase.