Dramatic changes to CIT system would affect economy
Priit Raudsepp, sworn attorney and managing partner of Law Firm GLIKMAN ALVIN, worked closely with other leading tax specialists from International Fiscal Association Estonia. As a result a reasoned opinion was prepared and sent to Ministry of Finance and Estonian Parliament. Tax specialists advise not to undermine unique Estonian corporate income tax system that has been effective since year 2000. Planned changes would introduce CIT obligation to certain inter-company loans. Such tax obligation is called in Estonian panditulumaks (direct translation: CIT of pledge). Panditulumaks would hinder investments to Estonia and business of international corporations.
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The entire opinion can be read here!