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March 30, 2020


Economic stimulus package Estonia


In order to mitigate the impact of the coronavirus on the Estonian economy and entrepreneurs, the Government of the Republic Estonia has developed a package of urgent economic measures. Please find enclosed stimulus package decision (by pressing the button below) translated in English, Russian, Finnish, Swedish, German and Norwegian languages. 

Extraordinary residence permit applications during the national emergency situation. 

Persons covered by the specific application are:

  • Owners and board members who are directly involved in the executive management of the company operating in Estonia.
  • Owners who are in the process of investment in the company established in Estonia. Owners who require a residence permit to execute all the necessary activities to complete the investment.

A special application is found at ppa@politsei.ee. Application feedback is provided within 24 hours.

Further information available via web links:

 

Link to economic stimulus package documents

 

NJORD Estonia: COVID-19:

Terms of the temporary salary compensation paid through the Unemployment Insurance Fund

 


To grant an income for the employees and help employers to overcome temporary difficulties, the government has entered into force a regulation introducing a temporary salary compensation paid through the Unemployment Insurance Fund on March 23, 2020.

If you have any questions regarding the fulfilment of the prerequisites for the salary compensation, please contact tallinn@njordlaw.ee.

The basic terms and conditions for the salary compensation are the following

  • The temporary salary compensation is paid to an employee whose employer is significantly impacted by the emergency situation.
  • The salary compensation is paid, when an employer is in a situation where they comply with at least two of the following terms:
  1. the employer must have suffered at least a 30% decline in turnover or revenue for the month they wish to be subsidized for, as compared to the same month last year;
  2. the employer is not able to provide at least 30% of their employees with work at the agreed volume;
  3. the employer has cut the wages of at least 30% of employees by at least 30% or down to the minimum wage.
  • The amount of salary compensation will be 70% of the average monthly wage of the employee. The maximum amount of salary compensation is €1000. In addition to that, the employer must pay a wage of at least €150 to the employee.
  • The Unemployment Insurance Fund will pay all taxes on the salary compensation (treated as wages) and the employer will pay the taxes on the employee’s wage.
  • To qualify for the salary compensation, the employer must pay the minimum wage for the emergency situation and then apply for the temporary salary compensation within 5 calendar days. The employer will send a separate application to the Unemployment Insurance Fund per each month.
  • The salary compensation shall be payable for the period from March 1, 2020, to May 31, 2020, but for no more than two calendar months during which the terms were met.

The explanations provided by the Unemployment Insurance Fund can be found here:

in Estonian https://www.tootukassa.ee/content/tootasu-huvitis

in English https://www.tootukassa.ee/eng/content/temporary-salary compensation-program

The Government Regulation can be found here: https://www.riigiteataja.ee/akt/120032020002?fbclid=IwAR2mrERLT4jYUIREEHtnqkJQpanv7Wcal56gYcrXkPUhVeBMPYpgGiMB1Fc

 

NJORD Estonia: COVID-19 news and info

 

COVID-19: Crisis and funding actions in Norway by KPMG



An overview of the Norwegian crisis and funding actions as a result of the COVID-19 outbreak. 

Including information about:

1. Employment relief
2. VAT
3. Air passenger tax and airport charges
4. Corporate tax
  • Postponement of advance tax payment for companies
  • Loss carryback
  • Postponement of advance tax payment for a trader and certain other business owners
  • Reduction of advance tax payments by way of ordinary means 
5. Government funding
6. Net wealth tax
  • Postponed payment of wealth tax
+ COVID-19: Summary of certain measures
 
KPMG Norway: COVID-19 crisis and funding actions

 

COVID-19 in the Baltics:

What State measures are available or are being planned for your company in each of the Baltic States?

 

As of the 24th of March, the Baltic governments have adopted a number of measures to help companies, the most important of which are outlined in the overview table on the link (please press the button below for more info).
 

New measures are being introduced daily, and the table only covers the most important support instruments currently (as of 24.03.2020) implemented or proposed. It is only intended to give a general comparison across the Baltic countries. COBALT will update the table above as necessary to also cover further major measures.

 

COBALT Baltics: COVID-19 state measures overview

RELIABLE NEWS SOURCES IN ESTONIA AND NORWAY

Norwegian-Estonian Chamber of Commerces Official Website
Norwegian-Estonian Chamber of Commerce's Official FB account
Norwegian-Estonian Chamber of Commerce's Official Twitter account
Norwegian-Estonian Chamber of Commerce's Official LinkedIn account
NECC in Instagram
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Norwegian-Estonian Chamber of Commerce, Harju 6, 10130 Tallinn, Estonia






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