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Tax & Legal Updates

Latest tax and legal news prepared by our professionals from Tax Department and Law Firm Deloitte Legal

July 2017

Amendments to Income Tax Law related to intra-group loans

The Estonian government’s plan to introduce corporate income tax on outgoing loans (so-called pledge tax) was rejected by the parliament. Instead, alternative amendments to the Estonian Income Tax Act were adopted by the Estonian Parliament on 19 June 2017 and the Estonian President announced the Law on 29 June 2017. In accordance with the amended law, the Estonian Tax authority will have the right to tax the loans granted by Estonian companies to their parent or sister companies, in case the loan conditions indicate that in substance the loan may be a hidden profit distribution. 

Read more here.

More information: Liisu Lell, Deloitte Advisory Manager, llell@deloittece.com

 

Are you ready for the new General Data Protection Regulation?

The new EU General Data Protection Regulation (GDPR) is coming into effect next year in May, bringing along a number of new obligations for data processors. It is important to bear in mind that GDPR affects absolutely every company, which is dealing with processing of personal data in its everyday business – be it the clients’ data or even the data of its own employees. It is also crucial to note that GDPR does not merely concern the companies established in the EU, but also those that process data in the EU – for example, offer their products or services on the EU market.

Read more here.

More information: Natalia Aleksejeva, Law Firm Deloitte Legal Attorney, naleksejeva@deloittece.com

 

Private Equity Confidence Survey

How optimistic are European investors and what's their appetite for new transactions? Find out from Deloitte Private Equity Confidence Survey here!

 

Technology Fast 50 Central Europe

Technology Fast 50 is a programme that recognises and profiles the fastest growing public or private technology companies in Central Europe.

Does your company have what it takes to be ranked among this elite group of fastest-growing technology companies? Find out by exploring the detailed information here. Remember, applications must be completed online and are due July 31, 2017. Don't miss out!

 

Deloitte Legal is the official advisor of the Estonian e-Residency team

The Republic of Estonia is the first country to offer e-Residency, a government issued digital identity that empowers entrepreneurs around the world to set up and run a location-independent business. Deloitte Legal is the official legal advisor to the Estonian e-Residency team.

What is e-Residency? How does it work? What are the legal aspects to be aware of? How to take advantage of it? Find out from Merit Lind’s interview to LexisNexis, a global provider of legal research and analytics, here.

More information: Merit Lind, Head of Law Firm Deloitte Legal, melind@deloittece.com

 

Amendments to the Estonian Income Tax Law

Amendments to the Estonian Income Tax Law were adopted by the Estonian Parliament on 19 June 2017 and Estonian President has announced the Law on 29 June 2017.

There are many different changes in the above mentioned law that make the employers’ life easier when providing bonuses to the employees, on the other hand there are new income tax rates, as well as the imposed advance corporate income tax to credit institutions, not to mention additional anti-avoidance provisions related to loans issued to other group entities.

Read more here.

 

 

May 2017 newsletter can be read here.

 

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