Estonia: Changes in Estonian Value Added Tax Act

16 December 2013

Estonian Parliament has adopted the Value Added Tax Act and Accounting Act on 11. December 2013 which provides requirement to the report transactions in an annex to the VAT declaration exceeding 1 000 euros.

Starting from July 2014 companies in Estonia must disclose to the Estonia tax authority all transactions that exceed 1000 euros. The information will be submitted regularly in an annex to the VAT declaration and include information about the other party: registration number, and the name of the party, number and date of invoice, invoice amount and VAT amount. Transactions with natural person no declaration required.

Valters Gencs

Tax Attorney & Founding Partner

Gencs Valters Law Firm, Riga

Email: valters.gencs@gencs.eu

Tel: +371 67 24 00 90

For questions, please, contact Valters Gencs, attorney at law at info@gencs.eu

The material contained here is not to be construed as legal advice or opinion.