Minister: Doing business in Estonia is easy

Sven Sester, the Minister of Finance of Estonia, presented to other eurozone finance ministers the experience and plans of Estonia to make business simpler: for example, using the information on wages already collected, the Tax and Customs Board for compiling official statistics would make it possible to reduce the reporting burden of companies.

“Doing business in Estonia is easy in comparison with many other countries: Estonia ranks first among European countries according to the ease of doing business index of the World Bank,” said Sven Sester. “But we still have a long way to go. The less time and effort entrepreneurs have to spend on bureaucracy, the more time they can commit to their businesses by creating better jobs and growing the wealth of society.

“We will work with the Tax and Customs Board, Statistics Estonia and the central bank to reduce and simplify reporting by companies in such a manner that the same information does not have to be submitted to the state twice. For example, using the information on wages collected by the Tax and Customs Board in national statistics would reduce the reporting burden. Authorities must share data with each other whilst guaranteeing the necessary confidentiality.”

Sester adds that e-residency also helps make simpler business, including cross-border business. “It also motivates us try and find ways of streamlining the identification and authentication of persons, and to provide services that support business also across the borders,” said Sester.

Source: Estonian Ministry of Finance

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