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InfoCourier - September 2018

InfoCourier - September 2018

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

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KPMG InfoCourier - September 2018

Changes in Taxation Act

The Government of the Republic of Estonia has sent a bill that changes and complements the current Taxation Act for approval. The bill will change and specify the definition of tax arrears, remove differences between an individual case and a tax audit, create an option to reduce interest on tax arrears if tax arrears are settled in instalments, etc.

A detailed overview in Estonian is available here

Information: Tax Advisor Mikk Tereping mtereping@kpmg.com 

Changes in Value-Added Tax Act

On 1 October 2018, a change in the Value-Added Tax Act which replaces the term plot with the term building land will enter into force. Currently the taxation of a plot of land that is transferred depends on the existence of a detailed plan. From October the sale of any building land will be subject to VAT.

A detailed overview in Estonian is available here.

Information: Tax Advisor Merike Oja moja@kpmg.com 

© 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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