Future government plans wide-ranging tax reformThe new government plans to introduce an €315 million investment program, privatize, either in part or in full, four state-owned companies, lay down a banking tax, abolish income tax incentives on loan interests etc. Grand redistribution of taxes is also in the pipeline that will see minimum income exempt from tax raised from the current 170 euros a month to 500 euros from 2018.Economy
Tax hikes in the pipelineThe general outline of the new coalition's tax policy had more or less taken shape behind closed doors by yesterday evening. It is very probable promises for the coming years will be covered with the help of new consumption taxes, and social and income tax hikes.Economy
Initiatives need to be implemented soonThe prime minister's economic development working group, headed by Erkki Raasuke, presented its report to the public and the incoming coalition yesterday. The working group was paradoxically called to life by outgoing Prime Minister Taavi Rõivas, while the fruits of its labor will now benefit his three biggest competitors.Economy
Coalition agreement progress one day at a timeEstonia's possible new triumvirate government hopes to sign the coalition agreement, talks on which kicked off with security topics the day before yesterday, by the end of next week. Yesterday saw the parties move on to tax and economic questions, which are also on the agenda for today. The hopeful coalition will work through Saturday to take a day of rest before the new week on Sunday.Local News
Income tax on dividends could be loweredInformation available to Postimees suggests that the prime minister's economic growth working group will propose cutting the rate of income tax on regular dividends to 14 percent, instead of the current 20, as part of a package of changes next Wednesday. Regular dividend payments would be defined as the average distributed profit for the past three years. Anything above that would be subject to the current 20 percent rate.Economy
Who said what to Port of Tallinn investigation committee?At Port of Tallinn, Allan Kiil and Ain Kaljurand made deals as their hearts desired. Economy ministers admit that the council manned according to political party interests was never competent enough. Mr Kiil and Mr Kaljurand held sway over council and internal audit alike.Economy
What went wrong with Estonian Air? EverythingAll four strategies for saving Estonian Air from bankruptcy burned taxpayer money as they contradicted each other and nobody ever analysed their results, says National Audit office report.Economy
Work group to hunt elephants hindering economy of Estonia Prime Minister sets sights on catching up with Nordics, no deadlineSummonsing the economic experts, Prime Minister of Estonia Taavi Rõivas is after ideas on how to reach the Nordic livings standards while avoiding the setting of a date.Economy
Government discusses bundling transport firms under single holding companyToday, government of Estonia discusses consolidation of infrastructure enterprises i.e. whether firms providing port, railway and airport services could be united under one holding company. The plan is to provide a solid partner for the transit sector and boost control over state enterprises.Economy
Eesti Energia squandered dozens of millions of eurosInternal audit reveals tens of millions of losses caused to company by management mistakes of former CEO Sandor Liive and his subordinates.Economy
Port of Tallinn politics: channeling cashDiving into the backwaters of Port of Tallinn corruption, Postimees hit information altogether scandalous: in details, we were explained how the enterprise has for years supported at least two government parties linked to its management with bags of banknotes.Local News
Hando Sutter elected as Eesti Energia CEOLast night, Eesti Energia council with Erkki Raasuke at helm elected current Nord Pool Spot Baltic and Russia region head Hando Sutter as new CEO to step into office this December. The contract goes for three years expiring on November 30th 2017.Economy
Bank involves Estonian capital, with easeOnly private persons and own enterprises participate in LHV non-public offering.Economy
Adviser aims at altering state company governanceNew plan would sever appointments to state enterprise councils from political agreements, linking it to competency.Local News
Loan goes to settle Taskila’s contractsYesterday brought clarity concerning the amount of money needed by Estonian Air to restructure itself into a small airline, only going to some select destinations: €37m, €8.3m of which it has already received as loan.Economy
Estonian Air seeks to found joint companyTwo ways remain to save the flag carrier airline. One is renting out superfluous jets and redundant people. The other: file for bankruptcy and start anew with a clean sheet – creating a new joint enterprise with some other airline.Economy
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