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Latest business news

Latvia: Immigration law amendments
26th May 2014
Latvian parliament adopted amendments to the Immigration Law in Latvia on May 8th, 2014. The amendments will come into force on September 1, 2014. Changes refer to the minimum thresholds of the property that qualifies for temporary residence permit.

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News: Port of Tallinn will pay less in the future

The Cabinet confirmed the Port of Tallinn’s request to reduce the sum of dividends it has to pay into this year's state budget by almost 50 percent. From the beginning the nationally-owned port was supposed to pay the state EUR 39.4 million in dividends, which is an all-time high for the company. The amount, however, was reduced to EUR 20 million following a request by the port to do so. Shipping to Estonia is much cheaper now, including tax payment.

In accordance with Prime Minister Andrus Ansip, the Cabinet decided to fulfil with the request, because the company will need a significant amount of further funding to keep shipping lanes open in the nation's territorial waters in winter.
For the present the job has been done by Estonia's one and only 1960s-built icebreaker vessel Tarmo, with further services rented from other icebreakers.

This year, however, the port has faced difficulties in increasing its ice breaking capacity, so further expenses are expected, said Ansip.

WEB devoloper - Artis Zelmenis