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E-invoices celebrate their first minor anniversary – submitting invoices to the public sector in this format has been obligatory for five years, while technical support for e-invoicing has existed on the market for more than 10 years. But the hope that the private sector would organically embrace the state’s role model has not come to fruition.

Last year, an amendment to the Commercial Register Act was passed, which meant more fines for companies for the purpose of making the Estonian business environment more transparent.

All of us have a work life and a private life, and no matter how we try, it is hard to keep them completely separate. Problems at work come home with us and vice versa. That is the underpinning for my belief that an employer who genuinely cares about its people will see investing into maintaining mental health as an investment in its employees.

An Estonian health tech Robus Group AS will be holding its initial public offering on the Nasdaq First North alternative market in April. Grant Thornton Baltic made a contribution to Robus going public, conducting the audit of the company’s financial statements.

In every crisis, an optimistic view of the future should be combined with a bulletproof crisis plan that helps a business navigate the worst situations. A few simple tips help build a working strategy, said several experienced practitioners who were guests on the Äripäev business daily’s radio programme “Kasvukursil”.

Grant Thornton Baltic was recently again able to contribute to a market debut for an Estonian company: our auditors conducted a financial audit of a producer of high-tech ventilation systems, Airobot Technologies, which as of 10 February is listed on Nasdaq First North.

COP26’s goal was to deliver radical change to save our planet. In the long term, there are good reasons to be hopeful.

Sustainability is receiving increasing attention in both business plans and the speeches of politicians. Grant Thornton also focuses on sustainability issues in advising organizations and we are happy to share our experiences and thoughts with you.

The mid-market’s real prioritisation of sustainability not only reflects the growing expectation of stakeholders but the forward-thinking nature of this entrepreneurial segment. But few companies have made significant progress and many still face significant barriers.

A businessman who started a company in Estonia even before the country had regained independence, Kevin Probert-Ehaver, recently sold his life’s work – the three Baltic companies in BK Group – to a major Chinese corporation, Hikvision. The transaction proved more complicated than planned, but in the end he managed to negotiate a price that was triple what was originally offered.

A wisely selected supervisory board – one that doesn’t do its work only at meetings but lays down clear strategic goals for management and itself and meters them constantly, while serving as a mentor for executives – can contribute greatly to achieving solid business results.

Running a business in the most profitable manner possible takes smart decisions. Data – and including data in the decision-making process – are an inseparable part of this, panellists on the Äripäev radio programme “Kasvukursil” said.

The law transposes the EU directive into Estonian law and entails an obligation for organizations to create internal and external reporting channels for reporting internal misconduct. The infringements that whistleblowers can report are very different - breaches of procurement procedures, internal fraud, breaches of environmental requirements, and so on.

The Danish tax authority increased the taxable income of Tetra Pak Processing Systems A/S due to shortcomings in transfer pricing documentation and continuous losses. The Danish Supreme Court reached the conclusion that the transfer pricing documentation filed by the company did not meet the requirements as the documentation lacked a competent comparability analysis.

Maintaining proper accounting on transfer prices and documenting the reasoning for conformity to market value is in the interests of every enterprise, as it avoids tax risks. In preparing documentation, the requirements of legal acts should be considered along with the specific company’s risks and needs.

Something that family businesses should consider besides earning a profit is maintaining mutual relations between family members and devoting attention early on to questions of succession if the business is to stay in the family.