Im zweiten Quartal 2021 stieg der durchschnittliche monatliche Bruttolohn in Litauen um 12 Prozent, in Lettland um 10,2 Prozent und in Estland um 7,3 Prozent, berichtete das lettische Zentralamt für Statistik. Die Höhe des durchschnittlichen Bruttolohns in Litauen ist jedoch nicht mit denen in den anderen baltischen Ländern vergleichbar, da er aufgrund von Änderungen in der Besteuerung der Arbeitseinkommen ab 2019 indexiert wird. Zwischen April und Juni betrug der durchschnittliche Bruttomonatslohn 1.566 Euro in Litauen, 1.538 Euro in Estland und 1.237 Euro in Lettland. Quelle: LETA
By Līva Melbārzde Estonia 1. Reimbursing communal costs The tax-free reimbursement of communal costs (such as heating, water, communal costs, and internet bills) is possible only with a percentage calculation of the workplace which can be compared to the total available floor space for the flat or house. A 50/50 arrangement is possible if there is no separate study. It is important to calculate how long any work is being done in the home office. The tax office also recommends that a written agreement be concluded between the employee and the employer regarding any home working. It is also possible for the employee to rent a room in their home to the employer. However, any rent must correspond to the prevailing applicable market price. Construction work in the flat or on the house can generally not be reimbursed unless it is fully and completely related to the work. 2. The use of personal equipment and inventories for work If the employee and the employer agree that the work will be carried out in the home office, then agreement must also be reached regarding whether any work-related equipment (such as a computer, or a desk) will be brought home or whether new equipment will be purchased. It is possible to reimburse these costs on a tax-free basis only if the owner of the equipment remains the employer. 3. Input tax on home office invoices It is possible to deduct input tax only in the case of invoices being issued to the employer and not to the employee. Otherwise any costs are to be reimbursed to the employee as gross amounts. If any invoices are issued to the employer (such as, for example, an invoice regarding internet provision), but the employee also uses the invoiced item for personal purposes, then a percentage share must be taxed in the form of a special remuneration. 4. Health protection and accident prevention in the home office Employers must ensure that working conditions in the home office also comply with applicable legal acts (covered by the ‘Occupational Health and Safety Act’). A risk analysis is also necessary for the home office. 5. Home office abroad If the employee works in a home office which is located in another country, and on a temporary basis, such remote working may cover a period of time which is generally no longer than six months in any given year, otherwise income tax must be paid in that country. Such an arrangement also depends upon any double taxation agreement (DTA) between the specific countries. Such employees are to be classified as expatriates abroad, and A1 health insurance must be applied for at the EU level. There are more and more companies which are making use of employees in a back office in other countries.. As long as such employees are only carrying out support work (and are not involved in not preparing invoices or concluding contracts), it is only necessary to pay income tax in Estonia. The AHK provides payroll services for foreign companies which have employees in Estonia, Latvia, and Lithuania. Latvia 1. According to the ‘Labour Code of Latvia’, the employer is obliged to reimburse the employee for expenses which are necessary for the due performance of their work under the applicable employment contract or which are incurred with the employer's consent, including expenses which are incurred by the employee for wear and tear on work-related equipment which belongs to the employee and which is being used for the purposes of work under the terms of the employment contract. Such expenses are to be justified by appropriate documentation and are not subject to the payment of income tax. 2. In 2021, income tax is also not levied on an employee's expenses where these are related to remote work which is covered by labour agreements in accordance with the ‘Labour Code’. Such compensation can amount to as much as €30 a month. The current scheme for the reimbursement of remote work expenses is, for the time, being limited to the year 2021. 3. Input value added tax can only be deducted if an invoice is issued to the company and not to the employee. Otherwise any costs are to be reimbursed to the employee as gross amounts. If an invoice is issued to the company, but the service is also used on a personal basis by the employee then a percentage share must be taxed in the form of special remuneration. 4. According to the ‘Labour Code’, an employee must provide the employer with all of the necessary information which will allow a full evaluation of remote working conditions and any risks which may be posed by working environment. The employer has the right to establish internal rules for any remote work. 5. Home office abroad- the same as in Estonia. Lithuania The ‘Labour Code’ stipulates that remote work can be carried out at the request of the employee. The employer will then assess whether the employee can work remotely. Those work functions which are carried out by the employee, and any specific details regarding such work functions, are to be fully assessed. In the case of teleworking, the following points should all be agreed in written form: - those requirements which are inherent within the workplace (if any), - the work equipment which is being provided for the work, - the procedure for providing such work equipment, - the rules for the use of the work equipment, and - the person responsible within the business to whom the employee is accountable. If the employee incurs any additional costs in connection with their work, or in relation to the acquisition, installation, and use of work equipment, during the period in which they are required to carry out remote working then any such costs are to be reimbursed. Any financial compensation and payment terms are to be agreed between the parties to the employment contract. Any additional costs which are directly related to the work and the use of work equipment must be economically justified and must not be abused for tax purposes. For example, a calculation must be carried out to show how long a particular item of work equipment is being used for work. Expenses which are incurred by the business when its employees work from home - such as in terms of electricity, telephone, and internet costs - and which are to be reimbursed through the payment of a fixed monthly benefit, are included in deductible deductions as employee benefits which are subject to income tax.
By Vytis Kapocius, Head of Industrial Newsec Baltics The manufacturing sector employs around 30 million people in the EU, and some additional 10 million employees within the transport, warehousing, and logistics industries. While the economies of most of the EU member states are forecast to recover by late 2022, the European Commission still calls for us to roll up our sleeves. That is no coincidence: the further development and growth of industry and logistics across the EU will play a major role in determining our overall economic development course. What should you expect across the Baltics states and within Lithuania in particular? Remaining very active If you had to pick a colour for the industrial and logistics segment in 2021 – it would be surely green. The first half of 2021 has already shown that industrial real estate objects are no longer just the niche class of an alternative investment. The total transaction volume of industrial real estate accounted for €164 million in the Baltics – that is a striking 42% share of all investment transactions. The growth of attention to the industrial real estate market has been fuelled by market players realizing that industrial investment objects often offer favourable investment yields and good risk diversification as opposed to other classes of real estate. Unsurprisingly, the Baltic market continues to see the new dedicated industrial, logistics or infrastructure investment funds coming into play. One should expect this trend of capital flow into the industrial and logistics segment to continue well into 2022. Equally important, the year 2021 has already demonstrated that a strategic shift towards a more sustainable “green” economy is taking place at an unprecedented pace. This is not only due to the European Green Deal whereby member states pledged a €0.6 trillion investment to finance it. Businesses across the Baltic states are taking the initiative on their own to embrace digitalization, supply chain transformation, and energy and resource efficiency. There is a clear understanding that these are 'must-haves' to stay competitive on the global scale over the years to come. As a result, the industrial real estate segment adapts to the new energy efficiency requirements and considers if materials used for construction are sustainably sourced, which leads to a rising demand for sustainability certifications. While in many developed European markets, land scarcity is already becoming a serious issue threatening to constrain growth potential, all three Baltic states – Lithuania, Latvia and Estonia – benefit from still being unsaturated and manufacturers can still find suitable locations for erecting their modern factories and responding to the global demand for various goods. Untapped potential I trust the regular Baltic Business Quarterly readers are already familiar with the success stories of international investors – both manufacturers and service providers – benefiting from the high-quality labour force and good infrastructure in the capital cities of the Baltic Tigers. I would argue that international investors can still reap the untapped investment opportunities of the mid-size regional cities. This is particularly relevant for manufacturers. For example, take Lithuania. Besides the 7 Free Economic Zones, there are multiple regional industrial parks that also offer ready-made infrastructure, close proximity to the municipal decision-makers, and often less competition for skilled labour, not to mention the fact that the employees face no traffic jams in mid-size cities. The operators of such industrial parks understand that international investors’ long-term success is their own long-term success as well. Therefore, they are willing to innovate and make the necessary commitments. The bigger cities are also experiencing significant developments as purchasing power continues to rise across all three Baltic states. Real estate innovations The pandemic had a significant short-term impact on the hospitality, leisure and office segments, all of which saw an increase in vacancy levels. Unsurprisingly, this means intensified competition for tenants. Despite this, we see a new supply being offered to the market, which specializes in quality, flexibility and delivery times as important differentiators among projects in the bigger cities. The pandemic has to some extent changed our daily habits – from the way we work and go shopping to the way we spend our leisure time. There is a much greater emphasis on health, safety and well-being than there was just a few years ago. Real estate developers now have to take these needs into account. The market was quick to adapt and we see multiple active construction sites with tall cranes working to supply the new complex buildings in H2 2021 and next year. This is not only the revival of building modern offices, but also the emergence of new categories as well. The pandemic in the Baltics has created favourable conditions for spurring the rise of so-called stock offices. These are the type of real estate buildings that blend warehousing, administrative and shop-floor space, often with a separate entrance for customers and conveniently reachable by personal transport. Of course, the location remains important for this type of industrial premises, yet the stock offices create a good basis for mid-size businesses to flexibly grow their economic activity in the post-pandemic economy. Scalability and sustainability of any real estate product is important in order to be attractive on the market. With plenty of global opportunities, businesses want to be able to scale-up (or sometimes scale-down) at their own pace. This concept is especially important for start-ups to be able to grow and gain scale. The active development of science parks shapes the attractiveness of the city, as it illustrates that there is already a critical mass of talented young minds who are capable of innovating on a global scale and performing value-added R&D operations and related services. Find everything about our new BBQ issue here
Während eines kürzlich durchgeführten Projekts konzentrierten sich die Aktivitäten auf die Erweiterung der touristischen Route, die von St. Petersburg nach Narva und von dort weiter nach Riga über Tartu in Richtung Rakvere und Viljandi in Estland und in Richtung Vyborg und Pskov in Russland führt. Mehrere historische Gebiete und touristische Attraktionen wurden in die Route aufgenommen, so die Stadtverwaltung von Tartu in einer Pressemitteilung. Helen Kalberg, Marketingmanagerin der Stadt Tartu, bezeichnete die internationale Zusammenarbeit als Hauptvorteil des Projekts Via Hanseatica Plus. "Das Projekt hat es den Partnern ermöglicht, sich besser kennenzulernen und die Zusammenarbeit hat sich dadurch deutlich entwickelt. Das gibt Hoffnung, dass auch in Zukunft große Dinge im Format der grenzüberschreitenden Zusammenarbeit möglich sind", sagte Kalberg. Die touristischen Cluster Südestlands und der Region Ost-Viru werden in Zukunft dazu beitragen, die Tourismusroute Via Hanseatica in Estland zu erhalten und zu entwickeln. In Lettland liegt die Via Hanseatica in der Verantwortung der Planungsregion Vidzeme und in Russland bei den Partnern der Regionen Pskow und Leningrad. Das Ziel des Programms für grenzüberschreitende Zusammenarbeit zwischen Estland und Russland 2014-2020 ist die Förderung der grenzüberschreitenden Zusammenarbeit zwischen der Republik Estland und der Russischen Föderation, um die sozioökonomische Entwicklung auf beiden Seiten der gemeinsamen Grenze zu erleichtern. Quelle: The Baltic Times
Wir alle haben schon Solarpaneele auf Dächern installiert gesehen. Ja, sie produzieren Energie, aber zu welchem Preis? Oft wird das Gesamtbild des Hauses komplett ruiniert. Das Dach ist ein wesentlicher Teil der Fassade und verleiht dem Haus seine Persönlichkeit. Solarstone aus Estland hat vielleicht gerade die perfekte Lösung für Hausbesitzer, die Solarenergie nutzen wollen, aber keine Zugeständnisse beim Design des Hauses machen wollen. Gebäudeintegrierte Solarpaneele (BIPV), oder allgemein bekannt als Solardächer, funktionieren wie normales Dachmaterial und produzieren gleichzeitig lokal Energie. Es ist eine wirklich einzigartige 2in1-Lösung und der praktikabelste und nachhaltigste Weg, um Klima- und Energieprobleme zu bekämpfen. Die von Solarstone patentierten Rahmen- und Modullösungen machen die Installation einfach - bei guter Planung kann ein durchschnittliches Dach in einem Tag installiert werden. Das Ingenieurteam von Solarstone hat drei verschiedene intelligente Solardachlösungen entwickelt, die mit einer Vielzahl von traditionellen Dachmaterialien und Budgetsegmenten kompatibel sind. Die Dächer sind ästhetisch ansprechend und fügen sich in jede Umgebung ein. "Wir überwachen die gesamte Wertschöpfungskette unserer Produkte. Für uns und unsere Kunden ist der Aufbau einer nachhaltigen Zukunft ein Muss", sagt Silver Aednik, der Geschäftsführer von Solarstone. "Die Pandemie hat eine Chance für nachhaltige Lösungen im Hausbau geschaffen. Die Menschen nehmen sich mehr Zeit für die Planung und Ausführung. Grünes Denken und politische Initiativen verändern das Verständnis dafür, wie Solarlösungen am besten eingesetzt werden können und wie wir in zukünftigen Häusern Energie verbrauchen und produzieren. Solarstone wird weiterhin intelligente Solarlösungen entwickeln und liefern. Unser Ziel ist es, der TOP3 BIPV-Anbieter in Europa zu werden." Gründungsjahr: 2015 Sektoren: Erneuerbare Energien, Cleantech, Photovoltaik, Bauwesen Umsatz: €1M+ Mitarbeiterzahl: 25 Exportmärkte: Schweden, Norwegen, Finnland, Dänemark, Lettland, Frankreich und Polen Installierte Dächer: 400+