The scholarship is established to support the study of economics in Estonia and to commemorate Mr. Riit, a long-term Head of the TUT Department of Accounting and one of the founders of KPMG in Estonia. For further information, please choose Estonian language.

The latest Global Business Outlook survey from KPMG International suggests that businesses are ready to begin investing again as the healthy optimism recorded earlier in the year holds firm.
Optimism around employment, capital expenditure and R&D expenditure is slowly increasing, raising hopes for a sustainable recovery across many key markets.
The survey, compiled by research firm Markit on behalf of KPMG International, works on a net balance basis, with the percentage of respondents feeling more pessimistic about their company's outlook in 12 months' time deducted from the percentage feeling more optimistic about the future. Click here to read more (PDF, 5MB)

An overview of the latest changes in legislation
Contents:

• New tax conventions
• Court judgements:
  • Supreme Court judgment on charging VAT on transfer of debt obligations

Click here to read more

22 September 2010, Tallinn
For further information, please choose Estonian language.

KPMG releases survey on insurance sector preparedness in CEE. The deadline for compliance is a bit more than two years from now, but according to the latest survey from KPMG, entitled Solvency II Readiness in CEE, many players within the industry are at a standstill in their preparedness towards Solvency II compliance. Read more here (2.4 MB; PDF)

In order to streamline and harmonize the management structure of KPMG in the Baltics, KPMG Baltics AS has been transformed from a limited company defined as aktsiaselts (AS) under the Estonian legislation into a limited company defined as osaühing (OÜ). Therefore, please use our new business name KPMG Baltics OÜ in your invoices, contracts and other materials related to us.

All other contact data - the postal address, telephones and email addresses - remain unchanged.

KPMG foorum is management magazine, which is designed for decision makers. Authors include KPMG advisors who have practical advising experience, a good knowledge of Estonian companies and excellent professional experience.
The magazine, which explores topical management issues, includes not only articles and recommendations but also a leaders' column, and interviews with clients and business partners.
Since spring 2010, magazine will be published in Estonian language only.

The report gives and overview of the progress and absorption achieved by Estonia and other CEE countries during the first three years of 2007- 2013 EU co-funded programmes. Click here for the report (PDF).

An overview of the latest changes in legislation
Contents:

• Draft amendment to the Value Added Tax Act
• Court judgements:
  • Tallinn Court of Appeal's judgment on withholding income tax on dividends

Click here to read more

According to the Estonian companies participating in the inquiry which was carried out by KPMG Baltics AS, an economic growth of up to a few percent might be expected for the current year. However, a wait-and-see attitude prevails as concerns employment and increasing salaries.
In the survey "The Pulse of Economy 2010" carried out in April, KPMG inquired about the opinions of the business sector's decision-makers concerning the outlook for an economic growth in Estonia, the euro, foreign investments as well as enterprises' salary and staff policies.

The lure of increased tax revenues may lead governments to consider relaxing current rules and restrictions according to a new KPMG report: Online Gaming: A Gamble or a Sure Bet? Click here to download the report (PDF, 2,3 MB).

The extent to which the emerging economies have broken clear of recession much quicker than their developed economy counterparts has been highlighted by research into the latest cross-border deal activity.
According to KPMG's latest Emerging Markets International Acquisition Tracker (EMIAT), trade buyers in the emerging economies are already back on the cross-border acquisition trail yet the number of deals instigated by buyers in the developed economies is still in decline.

KPMG: Crisis precipitates a change of focus for manufacturers in CEE
It's a new era for manufacturers in Central & Eastern Europe (CEE) whose base has never been exposed to such dire forces, both within and beyond their control.
But according to the results of a survey of consumer and industrial markets manufacturers in CEE by KPMG - entitled Redefining business models: Colliding, Surviving or Thriving? How Consumer & Industrial Manufacturers in Central & Eastern Europe are navigating the crisis - their success or failure may not be contingent upon the global economic crisis but on what, or whom they place at the top of their priority list.

Innovation key to staying ahead of increased competition from Middle East and China Joint Ventures and strategic alliances set to increase.
The European chemical industry is set to face serious challenges over the next five years, with KPMG forecasting that 20 per cent of the sector's base chemical capacity may become unsustainable by 2015.