Archive for May, 2010

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Coca-Cola shifts production to Lithuania

Coca-Cola Baltics has confirmed that it has shut down its production facility in Estonia, and has moved it to Lithuania. The company said it has not produced any Coca-Cola brands in Estonia since end-April, leading to the loss of 63 jobs in the country.

The company said production could be re-launched in Estonia if a new factory should be built here.

BBN reported in December that Coca-Cola HBC, the Coca-Cola bottler in Estonia, planned to transfer production and that the company plans to build a new plant in Latvia. “In the meantime,

State to give companies one year to repay tax debt

While today companies that have tax arrears can agree with the tax board that they will repay their tax debts payment schedules over several years, the finance ministry is proposing to limit the scheduling of tax arrears fro one year. If the new law takes effect, companies would have to prove once a year to the tax board that they are not insolvent, writes

Tax board has frozen over 55,000 bank accounts in 2010

Tax board has become notably more active in freezing bank accounts of tax debtors. While last year the board froze in average 10,000 bank accounts a month, it has now frozen 55,000 accounts in two months of 2010, writes

Facio: Actual authors of tax fraud are unknown

Construction company Facio Ehitus admits that some of its employees were linked with tax evasion, but it

EEK 685 mln as undeclared taxes in the H1

The Tax and Customs Board (MTA) discovered undeclared and unpaid taxes in amount of EEK 685 mln during the first half-year, MTA announced.

Most common were value-added tax violations and frauds

Guido Sammelselg’s creative bankruptcy

Sthenos Grupp that is claiming 15.5 million kroons from Estonian businessman Guido Sammelselg claims the latter is making a mockery of his bankruptcy.