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Monday 18.12.2017 | Name days: Klinta, Kristaps, Kristofers, Krists

VAT reverse payment proposed for construction sector to combat grey economy

Representatives of the Cabinet of Ministers Grey Economy Combating Council, social and cooperation partners have reviewed the State Institutions’ work plan for limiting grey economy in 2016-2020. 60 specific goals were added to the project plan. Realizing those goals will help reduce grey economy to the average level across the EU by 2020.

Cargo volumes in Estonian ports drop by third January-on-January

The amount of cargoes handled at Estonian ports managed by the state port company Tallinna Sadam has fell by 38.7% comparing January 2017 to January 2016.

Estonian retailer weighing shops’ closure as buyers seek cheaper prices in north Latvia

Coop, the Estonian cooperative retail network, will decide in March on whether to wind up a number of shops, which struggle as excise duty hikes motivate buyers in southern Estonia to seek cheaper prices across the border.

Number of tourists staying in tourist accommodations in Latvia increases every year

In 2016, 2.3 million visitors were hosted at Latvian tourist accommodation establishments, which was 7.7 % more than the year before. The respective indicator has increased by 75 % from the 1.3 million hosted in 2010.

Record year for Estonian startups – 102 million euros raised

In 2016, Estonian startup companies attracted a record sum in total investment – 102.5 million euros.

Estonian rideshare drivers declare more income since declaration simplified

Providers of rideshare services in Estonia are increasingly declaring their income, and the country’s Tax and Customs Board explains the trend with a simplified, prefilled form, that was introduced in late 2015.

VNT contribution to Ventspils Freeport remains the highest among other operators

In January 2017, VNT transshipped 681 thousand tons – more than double than the transshipped volume in December 2016 and 25 % more than the combined liquid cargo volume transshipped in the Ventspils Freeport in December 2016.

Estonia’s military industry sees U.S. as largest export market

Estonian manufacturers of defence products see the largest export potential in the U.S., where considerable deals have been reached.

Switzerland rejects plan to safeguard foreign companies from swift tax increase

In a weekend referendum, Swiss voters have opposed a government plan to reform the country's corporate tax system in a way that would safeguard foreign companies from a swift tax increase.