Posts tagged as businesses

Estonia: One fifth of businesses have serious tax deficiencies

Monday, October 26, 2020

One in five businesses have serious deficiencies relating to their tax situation, the Tax and Customs Board (MTA) says. Additionally, another twenty percent have some issues. The MTA adds that over half of businesses have their affairs fully in order, so far as the authority is concerned. The board issues guidance on how to remedy this issues, where needed, via a free and voluntary service made available in the summer…

Businesses to watch from Liepāja

Friday, October 2, 2020

In this special feature, originally produced for the Baltic Business Quarterly magazine published by the German-Baltic Chamber of Commerce (AHK), Monta Glumane reports from Liepāja on the changing business landscape in Latvia’s third-largest city, Liepāja, and profiles some of the companies leading an undeniable economic revival. The manufacturing companies in each industry have their own development story. For example, the tradition of metalworking began in the middle of the 19 th …

Twelve Belarusian companies will move business to Latvia

Tuesday, September 15, 2020

Currently, twelve businesses from Belarus have decided to relocate to Latvia, Ministry of Economics (EM) said September 15. As reported, businesses that feel they can no longer operate in Belarus due to the latest in a long line of brutal crackdowns by the Lukashenko regime have been contacting the  Latvian Investment and Development Agency   (LIAA) about possible relocation. Some companies that have decided to move their business qualify for the…

Latvian businesses nix plastic

Wednesday, August 5, 2020

The global movement Plastic Free July  has just ended, when everyone in the world was asked to opt out of disposable packaging. Regarding this aspect, LSM compiled the stories of a few Latvian companies who try to make a difference in this respect, creating environmentally friendly products and their packaging. Is it enough to opt out of plastic bags and dishes to improve the planet’s ecological health? The latest  Eurobarometer survey shows…

Alternative investment fund approved to help businesses through coronavirus crisis

Wednesday, July 15, 2020

The Cabinet of Ministers at its July 14 meeting approved the draft resolution “Regulations on capital investments in enterprises whose operations have been affected by the spread of Covid-19”, which sets out the rules for the establishment of alternative investment funds for the support of large enterprises affected by the economic impact of COVID-19. The fund is being created with the aim to support well-managed enterprises that have nevertheless run into…

Estonian defense industry businesses now relying on state orders

Monday, June 1, 2020

As business-owners typically geared toward foreign markets are noticing the postponement or cancellation of foreign orders, the Estonian Defense Industry Association (EKTL) is hoping for orders from within Estonia during the economic downturn, noting that defense industry businesses and the state as the builder of defense capacity are dependent on one another. The first naval defense boats are wrapping up being built in Saaremaa. The shipyard has built 250 pilot…

Lithuania moves to reopen some shops and businesses

Wednesday, April 15, 2020

The Lithuanian government has allowed reopening of some businesses, including non-food retailers and small repair services with direct access from the street. Shops in large shopping centres will have to remain closed. The government decided on Wednesday to allow business to open that can guarantee access from the street. However, the government has so far only published operating guidelines, and it remains unclear which businesses will be able to open.…

Lithuanian government mulls reimbursing rental costs for businesses

Friday, April 10, 2020

The Lithuanian Government plans to reimburse part of rental costs for businesses, Prime Minister Saulius Skvernelis said on Friday. The Cabinet had already discussed potential compensation mechanisms and the final decision should be adopted after Easter, he said in an interview to BNS. “We discussed what to do about businesses, which rent their premises and do not have money, do not have working capital, do not carry out any activity…

Government support for businesses and workers – when to claim

Thursday, April 9, 2020

The Lithuanian government pledged five billion euros to help businesses and workers withstand the economic shock caused by the pandemic. Here’s when to file claims,, according to a government’s press release. April 3 –  small and medium-sized enterprises can already request the so-called  loan holidays  , which will fully compensate the interest charged since March 16 when the country declared a nationwide quarantine. The compensation is paid on a monthly,…

No subsidies for businesses due to coronavirus – Lithuanian PM

Thursday, March 12, 2020

The Lithuanian government is not planning to provide subsidies to businesses affected by the coronavirus, the prime minister says, but the tax authority may consider deferring tax payments. “If someone thinks that the state will start giving out subsidies or support, or replace customers and become a customer itself, then this is not going to happen,” Prime Minister Saulius Skvernelis told the radio Žinių Radijas on Thursday. “However, discussions with…