The idea of the AmCham Taxation Committee was to engage with all taxation issues that relate to the needs of FDI in the country and Estonia’s competitiveness in the region, which would allow the views of members to directly feed in to key policymakers.
In 2020, what used to be the AmCham Taxation Committee was transferred into the Public Policy Committee – a dynamic group of thought-leaders who will come together to advance the national business climate and Estonia’s competitiveness for FDI.
Committee members will work closely with the Estonian government, key decision-makers, Riigikogu members, and industry organizations to recommend policy, legislative, and regulatory solutions that will improve the overall business climate in the country. The following topics fall under the committee’s agenda:
- financial services
- business diplomacy
- foreign direct investment
- legislation changes
Here are some of the most relevant issues the committee was addressing in 2019:
- The former “simple, transparent and homogenous” taxation system has over a very short timespan become complicated and Excel-based. This together with the fact that it is near to impossible for non-residents to open a bank account in Estonia, that all transactions with shares require authorization and that no one comes here for the climate, what are the plans to bring back foreign investment? What is the long-term and short-term plan and vision?
- Estonia prides itself in being tech-savvy – how will R&D be supported through taxation? As a reminder, R&D requires a lot of costs (mainly personnel costs) and only starts earning a profit after several years, if at all.
- Modern employment market requires flexible solutions for specialists and their families who travel and stay for several years, then move on. How will the extremely inflexible social security system adapt to their needs?
- Is there a plan to make non-resident companies’ capital gains exempt, as it is in all the countries around Estonia?
Public Policy Committee Members:
Former Taxation Committee Members:
- Elvira Tulvik, Advokaadibüroo Magnusson
- Ranno Tingas, Ernst & Young Estonia
- Nele Normak, Coca Cola Balti Jookide AS
- Elo Tamm, Cobalt
- Maris Leemets, Philip Morris International
- Siiri Lahe, Estonian Cell AS
- Daria Sivovol, AmCham