Minimum salary in 2015

The minimum salary for a full-time employee has risen as of 01.January 2015 from 355 eur to 390 eur and the minimum hourly pay is set to 2,34 eur per hour. In connection with this rise, the grants and benefits connected with the minimum wage will rise accordingly  – such as parental subsidies, unemployment benefits and also compensation for parental vacation.

Amendments to the compensation of a personal car

Amendments starting from September 1, 2014 to compensation paid for use of a personal car

August 8, 2014

On July 3, 2014, the State Gazette (Riigi Teataja) published an amendment of the Income Tax Act that will take effect on September 1, 2014. If driving diary is kept, the tax exempt limit of compensation paid to one person for service or employment related use of a personal automobile is 0.30 euros per kilometer, but not more than 335 euros during each calendar month per each employer paying the compensation.

Consequently, starting from September 1, it will no longer be possible to pay a tax exempt compensation of 64 euros per month for use of a personal automobile without keeping a driving Records diary.

President enforced the new amendments to the law on value-added tax

The President of Estonia recently announced that the new amendments to the law on value-added tax will be enforced as of 01.november 2014.  Companies now have less than 6 months to get ready for the changes.

Some of the more significant changes are as follows :

– As of 01.november 2014 together with the declaration of monthly VAT, there will be an mandatory annex where one has to fill in the details of :

• all invoices exceeding 1000 eur ;

• all monthly invoices per one client exceeding 1000 eur (ie. for example 2 invoices of 500 eur and 600 eur are over 1000 eur per month and therefore have to be listed aswell) .

More details to follow.

Minimum salary in Estonia as of 2014

The minimum salary for a full-time employee has risen as of 01.January 2014 from 320 eur to 355 eur and the minimum hourly pay is set to 2,13eur per hour. In connection with this rise, the grants and benefits connected with the minimum wage will rise accordingly  – such as parental subsidies, unemployment benefits and also compensation for parental vacation.

Share Capital registration services

By 31 December 2011 the share capital of existing companies must be re-registered in Euros.

Transferring share capital into Euros and the corresponding change in the Articles of Association can be made electronically through the company registration portal or at a notary office. Changes must be made before 31 December 2011. No state fees are to be paid for the changes, but at the notary office, a notary fee is to be paid in a sum starting from 36 EUR, to which VAT shall be added.

We offer the service of drawing up the necessary decisions, lists of shareholders and the new articles of association for changing the share capital for a price starting at 100 EUR, to which VAT shall be added. If so requested, all necessary documents can be submitted to the company registration portal at a time.

If the registration must be carried out at the notary, the service fee is 128 EUR, to which VAT shall be added.