Construction companies suspected of large-scale fraud

Owners of two Estonian construction firms Wolmreks Ehituse and Kristiine Ehituse are suspected to have masterminded a scam causing the state and subcontractors to lose millions, writes


everybody should to go explain to any possible investor NOT TO COME TO MAKE BUSINESS IN ESTONIA

German trade official: Estonia has its problems, but who doesn’t

Maren Diale-Schellschmidt, head of the German-Baltic Chamber of Commerce (AHK), says that foreign investors have some problems in Estonia, but they should not be exaggerated.

In an interview to

76% of tax revenue target reached by October

The state had collected 47 billion kroons (3 million euros) in tax revenue or 76.1% of the annual target, by the end of September, according to the Estonian Tax and Customs Board.

Of this total, 5.3 billion kroons was paid into the state budget in September, in line with the Finance Ministry’s summer forecast. By the end of September last year 46.5 billion kroons of tax revenue, 73.3% of the target, had flown into the state coffers.

The sum total of the social tax paid into the state budget by the end of September was 19.9 billion kroons, 73.9% of the target. Of this two billion kroons, 0.2% less than in 2009, flew into the state budget. The significant contraction compared with the August inflow was due to seasonal factors, but in Q4 the influence of the contraction in employment cannot be ruled out, the Finance Ministry said.

Of individuals

Danish investor: it’s a scam!

Karsten Ree, major Danish investor and a shareholder of FjordFresh Holding, developer of the Audru fish farm project iN Estonia, claims that the company’s former executives Thorben Nielsen and Alar Oppar were in scam against him. According to Nielsen, it was Ree who failed to meet his obligations, wrote

Tax revenue collection in Estonia more successful than last year

At the same time last year, 65.3% of the planned annual income had been collected.

The social tax revenue amounted to 18 billion kroons in eight months

Five percent of employees regularly paid under the table in Estonia

Estonian tax authority reported today that 5% of workers regularly receive unreported pay in Estonia. In addition to them, about 4% of people are paid under the table for seasonal work.

The tax board admits that it was surprised since this is about the same as in 2009 and less than in 2008 when it stood at 12%.

Egon Veerm

Tax Authority Swoops, Finds Widespread Violations

Inspections and audits conducted by the tax authority revealed that people failed to declare and pay 36.2 million euros in taxes in the first six months of 2010.

Inspections and tax audits disclosed some sort of irregularity in 89 percent of cases, according to the Estonian Tax and Customs Board.Tax and Customs Board control department head Egon Veerm

unpaid tax

According to Egon Veerm

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