Estonia MOF Proposes Amendments to Tax Measures for Small Businesses, Clarifies VAT Treatment for Buildings

The Estonian Ministry of Finance March 4 proposed amendments to tax measures for small businesses and clarified VAT treatment for buildings. The proposal includes measures to: 1) transpose the EU’s special regime for small businesses into Estonian law; 2) require Estonian entrepreneurs to notify the Tax and Customs Board upon the implementation of the special regime; 3) merge the intra-community turnover declaration with the normal turnover declaration; 4) apply VAT on the sale of a new or uncommission building if sold within one year of completion, regardless of its usage; and 5) change the calculation of the input tax paid ...