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New amendments to the Micro-enterprise Tax Law

Micro-enterprise tax law provides that starting from 1 January 2015 micro-enterprise tax rate for micro-enterprise turnover exceeding EUR 7000 is increased from 9% to 11%. However, on 5 February 2015 the Saeima approved  in the first reading the draft “On Amendments to the Law on Micro-enterprise tax”, which provides to maintain 9% tax rate for micro enterprises in 2015 and to introduce detailed tax anti-avoidance rules.

The work on tax anti-avoidance rules’ development is time consuming, therefore it is expected that the draft would be adopted but would not be announced until 15 April 2015, which is the deadline for submission of the first quarterly report for micro-enterprise.

In order to avoid a situation where the micro-enterprise taxpayers make amendments to the first quarterly report of 2015, due to circumstances beyond the taxpayers’ control, because during the year of 2015 tax application and tax rate are changed, the deadline for submission of the first quarterly report of 2015 is extended. The transitional provisions of the law provide that with respect to the first quarter of 2015, the deadline for submission of quarterly tax report for micro-enterprise and deadline for tax payment are from 15 May until 25 May 2015.

Other important amendments to the law have been adopted by the Saeima in the second reading. The deadline for submision of proposals for the third (last) reading is  31 March, 2015.  

If you are interested in the news of tax, employment and other business-related legislation in Estonia and Lithuania, please visit Estonian news and Lithuanian news.


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