Energy, Estonia, Financial Services, Taxation, Transport

TCB Deputy Director General Egon Veermäe said that the more effective control has helped to significantly reduce fuel sector tax losses. "The tax authority has eliminated several major fraud scams, as the result of which, this year as compared to last year, the collection of VAT among companies registered as liquid fuel operators has grown by 30 million euros, or 38%," he said.

Veermäe said that at the same time, the declared total sales have fallen by 479 million euros in the first seven months compared to the same period last year, of which 230 million euros, or 48% is connected to stopping activities of 17 problematic companies by the tax authorities in the second half of 2013.