As of 2018, Estonian businesses can automate wage, workforce reporting

Photo is illustrative.
Photo is illustrative. Source: (Ministry of Finance)

As part of the "Accounting 3.0" project, the Estonian Tax and Customs Board (MTA) and Statistics Estonia have made available to accounting and business software developers data compositions and guidelines which, when implemented, will allow companies using business software to make wage- and workforce-related reporting automatic as of next year.

The goal of the "Accounting 3.0" project is to make it possible for businesses to submit data to the state via the software they use, thereby making reporting a background activity, MTA director general Valdur Laid said in a press release.

"The MTA and Statistics Estonia will be ready to accept wage and workforce data presented via accounting software as of 2018," Laid said. "Hopefully as many software developers as possible will have made the necessary changes to their systems by this time so that businesses could begin benefiting from this opportunity."

Statistics Estonia director general Mart Mägi said that under the new system, the task of calculating all variables lies with the authorities, and the only data emerging in the course of the day-to-day business being conducted is collected from companies.

The goal of "Accounting 3.0" is to reduce the burden borne by businesses in relation to the provision of data to the MTA, Statistics Estonia and the Bank of Estonia.

Editor: Aili Vahtla

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