The appeal is addressed to the Prime Minister, the Minister of Finance, the Minister of Economy and the members of the Economic and Financial Committee of the Riigikogu. Photo by Mihkel Maripuu, Postman
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The Estonian Private and Venture Capital Association (EstVCA) and Finance Estonia have sent an appeal to draw attention to the fact that the plan of the Ministry of Finance and the Tax and Customs Office to change taxation practice of the transaction market, which has been in place for over 20 years, could result in a loss of almost 500 million to the Estonian economy in the form of lost investments.
In the appeal sent to the Prime Minister, the Minister of Finance, the Minister of Economy and the members of the Economic and Financial Committee of the Riigikogu, the business organizations draw attention to the fact that the proposed guidelines will change established investment practice, which has a detrimental effect on Estonian capital markets. The change worsens Estonian companies’ access to capital, which is already difficult for entrepreneurs in the current economic situation. This concerns in particular medium-sized companies, which have strong conditions for growth with the help of investments and which already have thousands of jobs today.
Maarja Pärs, member of the board of directors of the Estonian Private and Venture Capital Association, emphasized that it is reasonable to make such an important decision carefully and thoroughly, involving interested parties in the discussion: economic policymakers, politicians, market participants and legislative experts. This is important for the birth of a decision based on in-depth analysis. “Unfortunately today in the MTA guide there is no assessment of the impact on the competitiveness of the Estonian economy,” she underlined.
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2024-01-12 14:55:11
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