International Internet Magazine. Baltic States news & analytics
Saturday, 10.10.2015, 03:00
In September 2015, the Estonian Tax and Customs Board collected EUR 478.5 million in taxes, which is 5.5% more than in the same month a year earlier; the Ministry of Finance says that this refers to rapid wage growth, cites LETA.
Keyword tags: Budget, Estonia, Financial Services, Taxation
In the first nine months of the year 2015, budget revenue administered by the State Revenue Service was implemented by 99%, with budget revenue deficit amounting to EUR 54.84 million, reports LETA, according to the State Revenue Service.
The EU member states unanimously agreed at a meeting of Economic and Financial Affairs ministers on automatic exchange of information (every six months) on cross-border tax rulings. The agreement was reached just seven months after the presentation of the Commission. The Directive will come into effect on 1 January 2017.
The Estonian Tax and Customs Board (TCB) and the technology company Uber are creating a working group to examine what are the appropriate solutions for payment of taxes for the expanding sharing economy services across Europe, LETA/Postimees Online reports.
On April 23, 2015, the Saeima of the Republic of Latvia passed several amendments to the Micro-enterprise Tax Law. One of the amendments shall enter into legal force on January 1, 2016, and the other on January 1, 2017.
In the near future, the Finance Ministry is planning to carry out a major revision of the tax system, however, capital gains tax rates will not be reviewed, as the Finance Ministry's Parliamentary Secreatry Arvilis Aseradens (Unity) said during a discussion organized by LETA.
Latvian Revenue Service may have unlawfully collected EUR 5.8 million in personal income tax in 2014, the State Audit Office has concluded, writes LETA.