Cobalt’s tax team is specialised in offering tax advisory work in human capital, corporate and international taxation, tax litigation, transaction and business restructurings. The firm has experienced an increasing interest from clients in employee and management incentives. Egon Talur heads the group and has considerable experience with corporate taxation and representing clients in tax audit proceedings and tax litigation, with an emphasis on strategic advisory in contentious tax matters. Tõnu Kolts is a recognised expert in this space with long-term experience in advising both domestic and international clients.
Tax in Estonia
Cobalt
Practice head(s):
Egon Talur
Other key lawyers:
Tõnu Kolts; Karli Kütt
Testimonials
‘Cobalt Tax has a highly professional team and their flexibility working with their clients is extreme. You always find the right advice in time!’
‘Partner Egon Talur and associate Karli Kütt are our counterparties and they are simply the best!’
‘Cobalt has an experienced tax team. We have worked with them especially in respect of the questions related to platform industry and stock options.’
Key clients
Otto Maja OÜ
Bolt Operations OÜ
Dexatel OÜ
Kaspwerwiki Laevaomanikud OÜ
Kaamos Group OÜ
Green Marine AS
Salv Technologies OÜ
Mindvalley Inc / Mindvalley OÜ
CybExer Technologies OÜ
Saint-Gobain Glass Estonia SE
Veriff OÜ
Helmes AS
Electric Beast OÜ
OÜ Nordnet
Work highlights
- Advised and represented Otto Maja in a landmark dispute on value added tax in real estate development, where the Supreme Court, in addition to ruling the case fully in favour of Otto Maja, also changed the previous practice in relation to covering the value added tax part of the costs of the proceedings.
- Advised CybExer Technologies in their entire business restructuring after the closing of the investment by Karma Ventures.
- Advised a real estate company in setting up a scalable but tax efficient template corporate structure for raising funds for several future developments.
HansaLaw OÜ
HansaLaw OÜ is a boutique firm specialising in solving potential issues with Estonia's Tax and Customs board. Services include administrative problems, criminal cases involving taxation and misdemeanours. The team is involved with a number of civil cases, and is able to provide clients with an in-depth knowledge of the tax components of major transactions. Vahur Kivistik is the lead partner and is well versed in tax-related considerations within sectors such as construction, energy and real estate in tax matters. Gerly Kask is an experienced name, dealing with tax disputes and alleged crimes.
Practice head(s):
Vahur Kivistik; Gerly Kask; Andres Past; Jüri Leppik; Tõnu Tuulas
Work highlights
Sorainen
Sorainen offers a large regional tax service relating to litigation, advice, due-diligence and transfer-pricing services. Paul Künnap‘s expertise covers a wide variety of sectors, including tax-related real estate and M&A. Kärt Anna Maire Kelder stands out for her background in international tax law and work in matters related to art and philanthropy.
Practice head(s):
Kaido Künnapas
Other key lawyers:
Paul Künnap; Kärt Anna Maire Kelder; Verner Silm
Testimonials
‘The expertise and competence stands out. We are an international company, and there were many cases where we had quite complex and challenging questions and problems to solve and so far they have been always able to help us to find solution or to help to fix the issue.’
‘Sorainen’s tax team is very experienced in dealing with big cross-border tax issues, they are our go-to law firm when when we seek guidance on complex international tax matters.’
‘The team is very responsive and tries to understand the business considerations and effects before giving tax advice. Their main aim is helping the client to succeed and they usually live up to these words by delivering exact solutions.’
Key clients
Apollo Global Management
Salto
Ravental
Work highlights
- Advised Apollo on Estonian tax matters related to the financing of its acquisition of Graanul.
- Represented Ravental and Motopro in a labour taxes dispute with the Estonian Tax Administration.
- Advised SaltoX on launching its tokenized employee incentive plans.
TGS Baltic
TGS Baltic is home to an experienced practice in tax law and tax litigation. The firm has been involved in numerous high-profile tax disputes, with many involving landmark decisions by the Supreme Court of Estonia. The team benefits with a close relationship with officials in the tax authority and is home to Helmut Pikmets
, who focuses on tax advice, tax planning, tax disputes, tax criminal proceedings and tax constitutional review proceedings. Pikmets has represented clients in the Supreme Court and at the Office of the Chancellor of Justice in constitutional review proceedings concerning the unconstitutionality of tax laws. Sergei Jegorov and Dmitri Teplõhh stand out for their experience in tax advice and taxation disputes, with both leveraging extensive experience within the fuel and oil industries.
Practice head(s):
Other key lawyers:
Sergei Jegorov; Dmitri Teplõhh
Testimonials
‘TGS Baltic tax team has provided my company with valuable assistance, utilizing their diverse team of professionals to handle complicated matters fast and professionally. Their in-depth knowledge of relevant EU and local legislation has enabled us to protect our interests in domestic institutions and in EU governing bodies.’
‘Helmut Pikmets has impressive tax law knowledge and ability to apply it the best way to the client’s situation. Sergei Jegorov has a great ability to go into detail and provide the most efficient way forward based on his analyses.’
‘Long term experience with different tax issues.’
‘Deep knowledge an solid experience with different cases.’
Key clients
Luminor
Tallink Group
Swedbank
Imatra Elekter
Baltic Ground Services
HKScann
Metrosystem
Euroapteek
ESTIKO
Circle K
Sanofi
Møller Eiendom Group
Proplastik
TBD-Biodiscovery
Invego
Endover
MAXIMA Estonia
EstHus
Baltcap
EstateGuru
Auto-Bon/Bassadone
Bondora group
Opera
Tallinn University (Tallinna Ülikool)
OTB Ventures
Serent Capital
Zaka Startup 2
LHV Varahaldus AS
Work highlights
- Advised Serent Capital on a project in which Serent Capital invested in Raintree Systems, a leading provider of electronic health record (EHR) and revenue cycle management (RCM) software solutions for the therapy market. As part of the transaction, Raintree Systems (US) acquired the entire assets of Raintree Estonia OÜ.
- Represented the client against the Estonian Tax and Customs Board in the Supreme Court in connection with the request of the Tax Board of the Russian Federation (within the framework of the OECD agreement) to request information and documents from the client.
- Advised ZAKA Startups on leading a EUR 728,000 investment round in Alpha AR OÜ. Alpha AR plans to use the funding raised to develop its 3D modeling platform.
WALLESS (former Derling Primus)
WALLESS (former Derling Primus) covers a wide range of tax services, from tax structuring of investments, compliance, various VAT issues, advising on digital services tax regime and criminal cases. Furthermore, the team has been involved in helping to develop a new fiscal transparency regime applicable to limited partnership funds, and has also been busy with tax structuring and compliance advice to high-net-worth individuals and equity fund managers. Rolan Jankelevitsh is an established tax expert and since the start of the Ukraine crisis, he has been actively involved in liaising with the Estonian authorities on behalf of Ukrainian businesses, with the aim to introduce tax exceptions to facilitate temporary relocations for Ukrainian businesses to Estonia. Priit Raudsepp has advised several multinationals in international tax planning and is regarded as an opinion-leader on Estonian and international tax matters.
Practice head(s):
Rolan Jankelevitsh
Other key lawyers:
Pritt Raudsepp
Key clients
HeidelbergCement
Turnit
Nortal group
Fort Aero
éolane group
Estonian Association of Media Enterprises
Mandatum Life Insurance Company Limited
Work highlights
- Advised Mandatum Life on the Estonian tax implications of the sale of its life insurance business to the Lithuanian acquirer Invalda INVL Group.
- Advised CGI, a global IT consultancy group, on the Estonian tax implications of the group’s employee share purchase plan.
- Advised one of the largest Finnish banks on the tax implications of the cross-border merger of its leasing entities in the Baltics.
ATTELA Advokaadibüroo
ATTELA Advokaadibüroo has expertise in tax law and international taxation. In recent years, the firm has turned its attention towards tax related work in the cryptocurrency and blockchain areas. Marek Herm is Estonia’s representative in the European Commission’s list of independent experts for the Advisory Commission, formed under Directive 2017/1852 to resolve tax disputes between EU member states arising from bilateral tax treaties. Marko Saag is noted by one client as being able to ‘very thoroughly grasp all problems quickly.’ Kaspar Lind is involved in work revolving around anti-money laundering and tax evasion.
Practice head(s):
Marek Herm; Marko Saag; Kaspar Lind
Other key lawyers:
Madis Uusorg
Testimonials
‘Kaspar Lind and Marek Herm are both very educated in tax field, both in international and national law. Kaspar is very upheaval and Marek is very passionate about his work about taxes.’
‘This practice is exceptional because of their unique knowledge on up-to-date tax related legislation and practice in Estonia and in the EU. Their strengths are the best expertise on Tax related questions and customer orientated approach, which makes them outstanding in relation to other firms.’
Mr. Marek Herm is very thorough and grasps all problems quickly. Thanks to his previous career in EU institutions, he can always give an oversight of the future legislative initiatives and translate those to clients so that their companies are well-prepared for any future change in tax regulations domestically but also EU wide.’
Key clients
Amon
Orvium
Lightstreams
AS East-West Consulting
EESTI SPORDISELTS KALEV
ScanBalt Trucks
Alpter Grupp
Kroonikeskus
Aldar Eesti
Maximus International
Aprico Finance
Work highlights
- Represented EESTI SPORDISELTS KALEV successfully in two separate court cases concerning the transfer of an enterprise and transferor’s obligations related to the enterprise as well as liability of the board member of the transferor company.
- Represented Maximus International successfully against a credit institution in a court case where the Supreme Court delivered on 16 February 2022 a landmark judgment stating that credit institutions are not allowed to close payment accounts of such clients with whom they would be obliged to enter into the payment services agreement under the law.
- Advising Amon in receiving additional investments for its blockchain business
Ellex
Ellex has a tax practice with a focus on a combination of local and international tax advice in various areas including tax advisory services, asset finance, indirect tax, structured finance, tax investigations and tax disputes. Dmitri Rozenblat heads the team and has extensive experience in advising clients on tax matters that arise from M&A transactions and corporate restructuring. Risto Vahimets has knowledge and experience in understanding tax issues within the finance sector.
Practice head(s):
Dmitri Rozenblat
Other key lawyers:
Risto Vahimets
Key clients
BLRT Grupp AS
Graanul Invest AS
Eesti Gaas AS
ElectroAir OÜ
Liven AS
Enefit Green AS
AS BaltCap
Tere AS
AS LHV Group
Coop Pank AS
Bigbank AS
AS Inbank
AS Operail
Maag Group AS
Skeleton Technologies Group OÜ
Sportland International Group AS
Work highlights
- Advised Graanul Invest AS, Europe’s largest producer of wood pellets, and its shareholders on the tax structuring of the sale of the majority shareholding in Graanul Invest AS and other complex pre-and post-exit tax matters, including implementing of an employee option plan qualifying for the Estonian tax exemption.
- Advised BaltCap, a leading private equity and venture capital investor in the Baltic States, in connection with the implementation of complex employee option plans for the portfolio companies Piletilevi AS and OÜ Tradehouse.
- Advised Lintgen Adjacent Investments S.a r.l., as the biggest creditor, on the tax structuring and other complex tax aspects related to the purchase of the troubled T1 shopping mall from the bankruptcy estate of AS Tallinna Kombinaat.
Eversheds Sutherland Ots & Co
Eversheds Sutherland Ots & Co is able to provide tax advice to both local and international clients, including tax planning, requesting explanations form the Estonian Tax and Custom Board and representing clients during tax audits. In recent years, the firm has been instructed by a number of telecommunications and IT companies requesting advice on tax-related issues. Toomas Pikamäe has extensive knowledge of Estonian tax law, including double taxation, corproate income tax, VAT, tax planning and transfer pricing. Pikamäe has also found success in representing clients in several court cases that were referred to the Supreme Court in Estonia. Helena Noot stands out for her prominence in litigation and dispute resolution regarding corporate tax law.
Practice head(s):
Toomas Pikamäe
Other key lawyers:
Dmitri Zdobnõh; Helena Noot; Kaspar Kaljurand
Work highlights
KPMG Law in Estonia
KPMG Law in Estonia‘s tax team is well known, both locally and internationally, and advises corporations on all relevant tax matters, ranging from indirect tax and litigation to transfer pricing and tax compliance. The firm is also a service provider to cryptocurrency businesses, advising on the establishment and restructuring of their groups and structuring of management incentive plans. Joel Zernask is a known tax expert and provides a full range of tax services including advisory, compliance and litigation to local and international companies and private individuals. Maike Leppik takes lead on transfer pricing.
Practice head(s):
Joel Zernask
Other key lawyers:
Maike Leppik; Merike Oja; Einar Rosin
Testimonials
‘KPMG has a good teamwork and process flows. Also positive team spirit is great to acknowledge.’
‘Individuals we have worked with are very professional, take a lot of interest in our business operations and we feel a great support in achieving a common goal.’
Key clients
Infortar
Forecast Foundation
Capital Mill
Balancer Labs
Kaamos Grupp
Maag Grupp
Lidl Stiftung & Co. KG
Evecon
Baltic Workboats
Stockmann
Work highlights
- Structured and implemented Forecast Foundation’s exit from Estonia.
- Advised Balancer Labs OÜ in financing and expanding of Balancer ecosystem.
- Advised Creditinfo Eesti AS on transfer of IP and intra-group services.
Magnusson
Magnusson offers a full-service tax advisory practice, including planning and cost optimisation, risk management, market entry and exit strategies, domestic and cross-border restructuring, personal taxation and tax due diligence and audit. The firm benefits from its Pan-Baltic and international network of offices, which covers six jurisdictions whilst also working closely with the corporate and M&A, technology law, employment, banking and finance, real estate and dispute resolution teams. Elvira Tulvik is head of the tax and regulatory practice and is active in tax due diligence matters, cross-border restructurings and tax analysis and structuring.
Practice head(s):
Elvira Tulvik
Other key lawyers:
Hanna Esko
Key clients
Clean Electricity Generation B.V.
FlixBus Estonia OÜ
Whirlpool Corporation
Eranova OÜ
Põhjala Brewing AS
Saint-Gobain Eesti AS
OmniMatrix Group
Work highlights
- Advised Saint-Gobain Eesti, member of the worldwide leader in light and sustainable construction Saint-Gobain Group, on all tax aspects of its cross-border reorganisation and future financing.
- Advising the large German intercity bus transport group Flix Mobility (FlixBus) on all tax aspects of their operations in the Baltics. As a company operating passenger transport on international routes and employing personnel working in shifts, it is subject to complex contractual, compliance, employment and other regulations in several jurisdictions.
- Advising Whirlpool Corporation on tax law pertaining to management and executive contracts, in particular termination of executive employees and management board members as well as hiring procedures of new executive employees, many of whom act cross-border.
RASK Attorneys-at-Law
The ‘reliable’ team at RASK Attorneys-at-Law is led by Villy Lopman, who is sought after for his expertise, having developed his background as head of the legal department and principal lawyer at the Estonian Tax and Customs Board; he is well regarded for his legal expertise in complex tax disputes and has led the counsel in all major RASK tax cases and tax-related criminal cases.
Practice head(s):
Villy Lopman
Testimonials
‘RASK team is very reliable and thus far I have been satisfied with the service.’
‘For this department specifically, I would highlight Villy Lopman who really is an expert in his field. Tax law is full of complex nuances, yet Villy fearlessly manages to tackle any issue, often exceeding my expectations.’
Key clients
Estonian Autosport Events MTÜ
Work highlights
Cuesta Law Office
Cuesta Law Office is a fairly new player in the tax market, with the team being formed in spring 2019 and consisting of specialists from some of the major firms in the region. The firm covers a range of tax services, from defending tax-related actions to advising clients on matters such as VAT taxation on small boat transactions. Jaak Siim regularly engages with representing clients in tax disputes and audits before the Tax and Customs Board.
Practice head(s):
Jaak Siim
Other key lawyers:
Lada Riisna; Eva Mägi
Key clients
Anton Tvoronovitš
Ekspert1 OÜ
Allprint HM OÜ
Kalle Kask
Lia Ratassepp
OÜ ALAY Angels
KV Investor OÜ
Work highlights
- Represented Anton Tvoronovitš in a tax dispute with the Tax and Customs Board regarding the liability decision made to the client. The dispute ended partially successfully for the client. The proceedings reached the Supreme Court, where usually only about 10% of the cassation appeals submitted are taken into proceedings.
- Represented the client in a dispute with the Tax and Customs Board in connection with a claim for unjust enrichment filed against the client in connection with the enforcement proceedings of one company’s tax debt. The dispute ended successfully for the client. As far as is known, there have been no such cases before in Estonian jurisprudence.
- Represented Kalle Kask in a tax dispute with the Tax and Customs Board regarding the liability decision made to the client. The dispute ended partially successfully for the client. The court decision refuted the position of the tax authority, that the position previously published in the practice of the Supreme Court is not applicable to such disputes.
Triniti Estonia
Triniti Estonia has experience in tax disputes, both in the courts and with the tax authorities, in a wide range of industry sectors including transport and infrastructure, aviation, M&A, public sector, agriculture, venture capital and start ups. Ramil Pärdi has been advising in various domestic and international matters in domestic and cross-border taxation matters.
Practice head(s):
Ramil Pärdi
Key clients
Fort Holding OÜ
Estonia Farmid OÜ
Work highlights
- Advising and representing Fort Holding OÜ in various tax related questions and negotiations with the Tax and Customs Board
- Advised a large agricultural undertaking Estonia Farmid OÜ on tax matters in a large restructuring process.