Insights

Outsourcing services Professional qualification – a quality mark shaping the future of accounting services

The Level 6 Senior Accountant qualification is based on the occupational standard established by the Estonian Association of Accountants, describing the skills, knowledge, and attitudes required for the role. It covers financial, managerial and tax accounting, reporting, budgeting, and advisory work. Applying for the certificate requires practical work experience and professional training.

Tiina Põri

| 4 min read | 17 Dec 2025

Accounting Reduced social tax for employees with decreased work ability: what to keep in mind at year-end?

The reduced social tax for employees with decreased work ability is an accrual-based support measure in which the Unemployment Insurance Fund pays the employer’s social tax on behalf of an employee with decreased work ability, based on a one-time application. The allowance is calculated according to the monthly social tax rate applicable to the specific calculation period (month).

Deiwi Aru

| 3 min read | 05 Dec 2025

Practical advice Last call to request bank confirmation letters

According to the guidelines of the Accounting Standards Board, every accounting entity must ensure that the information presented in the annual report is fair and reliable. This also includes confirmations issued by banks regarding account balances, loans, collateral, and other financial assets and liabilities.

Meeli Tali-Aruväli

| 2 min read | 05 Dec 2025

Accounting How to assess whether the consolidated company's equity complies with the law?

Year-end is the time when the management of every company must ensure that the company’s equity complies with the minimum net asset requirements set out in the Commercial Code.

| 5 min read | 05 Dec 2025

Practical advice Well-planned vacation schedule creates confidence for the employee and stability for the company

Every company must prepare and communicate the annual vacation schedule during the first quarter of the year. This is not just a formality – the purpose of the schedule is to ensure smooth work organisation and conscious, mutually considerate planning of employees’ vacation needs.

Gaily Kuusik

| 6 min read | 05 Dec 2025

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

| 5 min read | 03 Dec 2025

Accounting Year-end reminder: review your loan covenant compliance

Year-end means preparing financial statements, but many businesses overlook one critical aspect: whether the covenants of long-term loans are compliant with the indicators agreed with the bank as at the balance sheet date.

| 4 min read | 03 Dec 2025

Accounting Checklist for preparing the annual report

To ensure that your annual report is completed smoothly and on time, we have compiled the key steps and recommendations — what to prepare, when to act and which information your accountant will need.

| 14 min read | 03 Dec 2025

Outsourcing Don’t lose your unused vacation days!

As the end of the calendar year approaches, now is the perfect time to review employees’ remaining vacation balances. It’s important to remember that vacation days can only be used during the calendar year in which they are earned and the following calendar year.

Liis Aaviku

| 3 min read | 02 Dec 2025

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

| 4 min read | 27 Nov 2025

Quick tips from accountants

This is where Grant Thornton Baltic’s specialists share their insights and advice for business leaders. Our goal is to share practical knowledge and explain complex topics in a clear and simple way, helping your company grow on a solid foundation.

30 Oct 2025

Leadership A leader is not born, but grown

Leadership isn’t born from titles — it’s grown through empathy, adaptability, and teamwork. Read Gaily Kuusik’s story of growth in modern outsourcing.

Gaily Kuusik

| 3 min read | 30 Oct 2025

Outsourcing Retroactive change in tax residency: does the employer need to recalculate the salary?

A retroactive tax residency change doesn’t require employers to recalculate salaries – it only affects the employee’s tax return.

3 min read | 30 Oct 2025

Outsourcing Corporate events and taxes: what to keep in mind

For companies within the same group, it is common practice to organize joint events, whether they are entertainment-focused summer days or business-oriented seminars. However, it’s important to remember that such events may trigger a tax liability.

Jelena Leoško

| 2 min read | 29 Oct 2025

Outsourcing Cash transactions and signatures

Why isn’t it legally correct to ask for a client’s signature when they pay for our services in cash? Is it allowed to ask the client to sign the cash receipt?

Inna Lisitsin

| 2 min read | 29 Oct 2025

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