Roivas calls on world to use Estonia's e-services

BELGRADE - Estonia is one of the fastest growing economies in the European Union and the most business-friendly countries, Estonia's Prime Minister Taavi Roivas says, calling on partner countries to use its e-services.

In an exclusive opinion piece for Tanjug ahead of the Third Meeting of Heads of Government of China and Central and Eastern European countries, Roivas notes:

Even though self-praise is not the most exemplary behaviour, I am today sincerely proud of Estonia. Our undisputable success story owes much to correct economic policy choices but is ultimately the result of hard work of all Estonian people.

An open economy, fair and free competition, a growth-supporting tax policy and a responsible fiscal policy - these are the principles behind our success.

The facts speak for themselves. Despite the recent deep economic crisis, Estonia had one of the fastest growing economies in the European Union from 2000 to 2013. The growth prospects for 2014 and 2015 are also above the Eurozone and European Union average.

Estonia has the lowest sovereign debt among the EU countries, enabling it to maintain the low tax burden in the future, while accumulated reserves prevent dependence on bond markets. The current structural balance rule is justified.

A tax reform was implemented in Estonia in 2000, exempting reinvested profits from corporate income tax. This had a positive impact on investment volumes, particularly among small and medium-sized enterprises. The tax amendment also boosted productivity and economic growth.

Estonia's attractive business environment with its low taxes has facilitated influx of foreign capital. Undoubtedly, foreign investors were also encouraged by the adoption of the...

Continue reading on: