Estonia’s Ministry of Finance has said it did not agree (under an OECD Inclusive Framework “silent procedure”) to the proposed Pillar Two side-by-side system package, and that it wants an outcome “acceptable to all parties.” In its announcement, Estonia argues that the OECD minimum tax rules are highly complex, would create a disproportionate administrative burden…
Introduction We would like to remind you of the deemed dividend distribution (DDD) provisions of the Special Contribution for the Defence Law that relate to the tax year 2023. Profits subject to deemed dividend distribution Companies are deemed to have distributed to their resident shareholders 70% of their accounting profits, after taxes and certain adjustments,…
Law no. 239/2025, published in the Official Journal no. 1160/15.12.2025, part of the “Package 2” of fiscal‑budgetary reforms, introduces major changes in taxation, public administration and insolvency procedures, aiming to reduce tax evasion and enhance resource efficiency. The majority of provisions enter into force starting 1 January 2026. Key provisions applicable from 1 January 2026…
Despite global uncertainty and geopolitical shifts, South East Europe’s merger and acquisition (M&A) landscape is shaping up to remain solid, with steady investor appetite and domestic dealmaking to stay active. But what are the key trends shaping the market and what should businesses be preparing for next? Transaction Services Partner, Stela Ivanchova provides insight. …
Baker Tilly South East Europe is pleased to announce the appointment of Marios Tsiakkis as a Non-Executive Director to the regional Board. Marios brings more than 35 years of leadership experience, most recently serving as Secretary General of the Cyprus Chamber of Commerce and Industry (Keve), where he played a central role in shaping economic…
Professor Joe Nellis is economic adviser at MHA, the accountancy and advisory firm. Eurozone inflation edged up to 2.2% in November, a slight rise from the 2.1% recorded in October. The headline number continues to hover close to the European Central Bank’s 2% target, but the underlying picture remains uneven. For the wider eurozone economy,…
On 4th of June 2025, the European Commission announced that Bulgaria is ready to adopt the euro. The announcement follows the release of the 2025 Convergence Report, which stated that Bulgaria met all nominal convergence criteria of the EU – price stability, public finances criterion, exchange rate and convergence of long-term interest rates. Furthermore, the…
Since January 2024, the European Union’s (EU) Emissions Trading System (ETS) has included maritime transport. What does that mean? According to the European Commission, maritime transport is one of the most energy-efficient modes of transport. However, because of its importance to the EU economy, it is a large and growing source of greenhouse gas emissions.…
What can the EU energy sector do to meet it obligations and aspirations, what role can they play, and how ESG should be at the forefront of their business modelling. There is little doubt that meeting the EU energy sector’s climate change and sustainability obligations and ambitions rest, in no small measure, on placing climate…