Cash declaration as of 1 May 2010

As of 1 May an amount of cash of a value exceeding EUR 10 000 carried by any person entering or leaving the European Union shall be also declared when for transportation of cash the transport services are used. Up to that time the obligation to declare was imposed only on natural persons crossing the border.

Any natural person entering or leaving the Community and carrying cash of a value of EUR 10 000 or more is still obligated to lodge a cash declaration.   This obligation is established by the Regulation (EC) No1889/2005 of the European Parliament and of the Council on controls of cash entering or leaving the Community as of 15 June 2007.

As of 1 May 2010, upon entry into force of section 48¹ of the Taxation Act and the Regulation No 24 of the Minister of Finance of 31 March 2010 “Procedure of cash declaration, cash declaration form and instruction for completing thereof” (RTL 2010, 18, 320) lay down an obligation to declare cash also in cases when for transportation of cash the transport services are used.   In such case consignees of cash shall lodge the cash declaration on import and consignors shall lodge the cash declaration on export.

Consequently, both natural persons and legal persons entering or leaving the Community with an amount of cash of a value EUR 10 000 or more are obligated to declare cash.

Cash subject to declaration means:

• banknotes and coins circulating as instruments of payment;
• cheques, including traveller’s cheques;
• promissory notes;
• money orders;
• shares.

Declaration forms are available on the website of the Estonian Tax and Customs Board. For completing a forms it should be printed and filled in, or to be completed right on the screen and subsequently printed.   The forms may also be obtained from the customs officials at performing the customs formalities.

SOurce: Estonian Tax and Customes Board

Foreign Minister opened Estonia pavilion at Shanghai EXPO

While opening the Estonia pavilion in the Shanghai World Exposition EXPO today, Foreign Minister Urmas Paet said that participation in the event provides Estonia with an opportunity to introduce itself in the areas of business, culture, tourism, education, research, and many others to China and the entire world.
Foreign Minister Paet said that taking part in the EXPO is a good opportunity for Estonia to show itself to the world and to invite people to travel, study, and create business ties in Estonia. “Being part of the World Exposition gives our businesses and institutions a good opportunity to establish ties in rapidly-developing Asia,” said the foreign minister. During the EXPO, various seminars and theme days will be held in the Estonia pavilion.
The theme of the Shanghai World Exposition is “Better City, Better Life”, with which it hopes to find solutions to the issues and challenges that come with urbanisation. Estonia’s exhibit in the Shanghai World Exposition EXPO is trying to involve people in the campaign to save cities. The pavilion offers people the opportunity to join the discussion on problems related to global urbanisation.
The World Exposition, which will last for half a year, includes close to 200 nations and 45 international organisations. The Estonia pavilion (about 1 000 m²) is located near the Finland, Sweden, Denmark and Norway pavilions. It is estimated that the EXPO will be visited by 70-80 million people.

Source: Estonian Review