Estonia

Estonia has launched a EUR 2 billion support programme.

Click here to see a comprehensive summary of jurisdictional tax measures and government reliefs in response to COVID-19.

• KredEx will offer loan guarantee to secure existing and new bank loans up to EUR 1 billion and will grant working capital loans in the amount of MEUR 500 to overcome liquidity problems caused by the COVID-19 eruption and MEUR 50 for investment loans.
•  Rural enterprises can apply to the Rural Development Foundation for guarantee up to MEUR 50, a working capital loan up to MEUR 100 or land capital up to MEUR 50.
• Economic support will be also provided to the following areas: MEUR 30 to stabilise the income base of local governments and MEUR 70 as investment support, MEUR 25 for tourism, MEUR 10 for micro and small enterprises, MEUR 105 to housing to support construction sector, MEUR 30 for the local road maintenance support to local governments and MEUR 10 to Road Administration, MEUR 300 for the acquisition of state-owned enterprises, MEUR 15 to support communications companies in building sustainable communications network, MEUR 15 to education and youth, MEUR 25 to culture and sports (additional application round due to changes in the preconditions concerning  supporting culture), MEUR 2 to religious communities.

Currently there are no employment-related measures which would be related with COVID-19.

However, as of 1 September 2020 an update to the Labour Market Services and Benefits Act entered into force. The update allows persons registered as unemployed to accept temporary work  (not exceeding 8 calendar days per month) without any influence to their unemployment status and compensations. 

Main sources of information

• KRIIS.EE

Tax: Joel Zernask – jzernask@kpmg.com
Legal: Karin Kaup – karin.kaup@kpmglaw.ee