International Internet Magazine. Baltic States news & analytics
Saturday, 30.05.2015, 05:22
The Estonian Institute of Economic Research shadow economy survey shows that due to illegal alcohol and cigarettes, the Estonian state was deprived in 2014 of a total of EUR 70.3 million of tax money, Estonian economy and communications ministry announced, cites LETA.
Keyword tags: Alcohol, Estonia, Financial Services, Legislation, Markets and Companies, Shadow economy, Taxation
The idea of a reduced personal income tax rate should be dropped, according to the president of the Bank of Latvia, Ilmars Rimsevics, in an interview on the LTV morning show "Rita panorama", cites LETA.
While for the year 2013, three people in Estonia declared an income of at least a million euros, for 2014, the number was 6, LETA/Postimees Online reports.
The Estonian Tax and Customs Board announced that in 2015, income tax declarations were submitted to the tax authorities on 2014 year's revenue for 662,702 persons, which is 4% more than last year, LETA/Public Broadcasting reports.
In a period from January 2013 to April 2015, the State Revenue Service (SRS) in Latvia carried out 123 inspections at electronic commerce companies. SRS established various violations in 119 of these companies, as the Service informed LETA.
The Estonian government approved on Thursday the bill of amendments to labour market services and subsidies and other laws, which prescribes for employees with low incomes an annual tax refund, which should motivate people to work and should raise the income of people earning low wages, reports LETA the government communications unit.
The Estonian government approved at its Thursday meeting the bill of amendments to the social tax law, the income tax law and other laws, which confirm a variety of changes, LETA/Postimees Online reports.