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KPMG InfoCourier February 2018

KPMG InfoCourier February 2018

InfoCourier is a monthly newsletter which gives an overview of the latest changes in legislation.


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KPMG InfoCourier February 2018

Changes in the Income Tax Act

The bill to amend the Income Tax Act has passed the first reading in Parliament. The aim of the bill is to exclude pensions, insurance indemnities and mandatory funded pension, from which income tax has been withheld, from the basis of calculating the size of the tax-free minimum available for individual taxpayer. By adopting the bill, pensions would remain taxable, but would not give ground to reduce the amount of tax-free income.

For further information, please contact Einar Rosin, tax adviser,

Court decision: Gross negligence can lead to liability decision

The Supreme Court decided that the tax authority has the right to request the payment of bankrupt company’s tax debt from its board member. The incurred tax liability had substantially generated from declared salary payments which tax liability had not been paid. The company did not pay the tax liability since the salary expenses exceeded its turnover. Since the company continued this activity and even hired new employees, the tax authority and court came to the conclusion that the acts concluded by the board member should be considered as gross negligence. Therefore making the liability decision to the board member is justified.

For further information, please contact Einar Rosin, tax adviser,

© 2019 KPMG Baltics OÜ, an Estonian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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