Foreclosed property of Three Sisters hotel to be auctioned

Court bailiff is selling foreclosed property of the Three Sisters hotel in Tallinn Old Town in an auction, according to an announcement published on Friday.

The property is 705 square metres in size and the starting price at the auction is 393,000 euros.

The property has a two-million-euro mortgage for Tallinn Business Bank (Tallinna Äripäev), plus a 384,000-euro mortgage for Petramark OÜ and a 217,000-euro mortgage for the state.

At the start of April, the company owed 86,315 euros in tax.

The main owner of Three Sisters is Masle Onroerend B. V. and manager Johannes Hendrikus Wientjes.

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Estonia tightens relations with Brazil

At his meeting in Brazil with the Brazilian Foreign Minister, Antonio de Aguiar Patriota, Foreign Minister Urmas Paet expressed satisfaction that Estonia and Brazil are actively communicating in several areas. “The opening of the Brazilian embassy in Tallinn has further developed closer contacts and Estonia is also making preparations for opening an embassy in Brazil in the next few years,“ said Paet.

According to Paet, Brazil is Estonia’s most important trading partner in Latin America and the total amount of exchange of goods exceeded 44 million euro in 2011. “Estonia is interested in signing a double taxation treaty with Brazil and developing even closer trade relations with Brazil,” noted Paet.

At the meeting, the foreign ministers also talked about visa free travel to Brazil for Estonian nationals. According to Foreign Minister Patriota, the Congress of Brazil will ratify in the near future the visa waiver agreement made between the European Union and Brazil, which will allow Estonian nationals to enter Brazil without a visa.

Paet and Patriota discussed the Open Governance Partnership established on Brazil’s initiative at the meeting. Paet expressed his satisfaction that currently a high-level meeting discussing the topic of open governance partnership is being held in Brazil. “ The inclusion of Estonia’s e-government experience in the implementation of the open society principles has also attracted wider international attention,” said Paet. “We consider the Open Governance Partnership a good initiative through which Estonia can introduce its experience in countries that are about to create their own e-government,” he added.

The foreign ministers also spoke at the meeting about information technology related cooperation and possibilities to jointly consult other countries in the field of IT.

Source: Estonian Review

Tax board zooms restaurants and hotels

The tax board has listed 150 catering and accommodation companies with suspicious cash transactions or that pay their employees suspiciously low wages, according to Kaido Lemendik, head of the tax board’s auditing department.

The tax office estimates that the state is losing 6.3 million euros a year from tax evasion in the catering and accommodation sector.

There are over 30,000 companies operating in the catering sector while more than 300 providers of accommodation services.

According to the tax board, cash makes up 50 percent of transactions in Tallinn restaurants and is therefore an easy possibility for companies to avoid paying taxes.

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Belgium will act as visa representative for Estonia in Nigeria and Congo

Estonia is to sign a visa representation accord with Belgium under which Belgium will represent Estonia in visa issuance in two African countries. According to the draft that came out of the Estonian Foreign Ministry, Belgium will act as visa representative for Estonia in Nigeria and the Democratic Republic of the Congo. The agreement would be concluded for an indefinite term and take effect from 1 April .

Estonia has concluded visa representation agreements with Austria, Denmark, Finland, France, Germany, Hungary, Latvia, Lithuania, the Netherlands, Poland, Slovenia, Spain, Sweden and Switzerland for the issuance of visas in 84 countries where Estonia does not have a representation of its own.

Source: Estonian Review