InfoCourier May 2018 | KPMG | EE
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InfoCourier May 2018

InfoCourier May 2018

InfoCourier is a monthly newsletter which gives an overview of the latest changes in legislation.

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KPMG InfoCourier May 2018

Changes in the Value-Added Tax Act adopted

As at 1st of May the following amendments to the Value Added Tax Act entered into force – the shortened list of metal products subject to tax under the special arrangements and invoicing arrangement of these transactions, time of supply of services provided to person of another member state, updated list of tax exempt social services, the transfer of units of greenhouse gas emissions.

As at 1st of October become effective amendments which replace the term “plot” with the term “building land”. The building land is an immovable within the meaning of General Part of the Civil Code Act which does not have a building other than a utility network or utility works and is designed for construction according to design specifications, detailed spatial plan or the national or local special spatial plan, or for which a construction notice is submitted or for which the function in cadastral unit is more than 50% residential or commercial land or both.

See also InfoCourier January and March.

Information: Tax Advisor Merike Oja moja@kpmg.com 

Lower rate of excise duty for energy-intensive companies

The Parliament intends to amend (currently at the second reading) the Alcohol, Tobacco, Fuel and Electricity Excise Duty Act in order to increase the competitiveness of electro-intensive enterprises by applying a lower electricity excise duty rate to such companies. 

The planned excise duty lower rate would be 0.5 euro per megawatt-hour, which is approximately 9 times lower than the current standard excise duty rate. 

The amendment will come into force on 1 January 2019. 

Information: Tax Advisor Mikk Tereping mtereping@kpmg.com 

OECD updated the Common Reporting Standard Implementation Handbook

The OECD  updated the  CRS Implementation Handbook which provides a practical guidance to the exchange of information on financial accounts. The Handbook will be further updated and completed over time. The list of the automatic exchange relationships is available on the OECD website.

The updated verison of the CRS Implementation Handbook is available here.

Information: Tax Advisor Merike Oja moja@kpmg.com

© 2018 KPMG Baltics OÜ, an Estonian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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