Foreign subsidiaries leave Estonia
By Sandra Taimre, Äripäev, for
Baltic Business News (Estonia)
June 16, 2008
The income tax act amendments caused liquidation panic this spring, tens of foreign companies’ subsidiaries and branches have announced that they will end business in Estonia.
The companies liquidated include steel galvanising company Galvex Services and Galvex Intertrade, businessman Ernesto Preatoni hotel chain’s subsidiary Blumberg Halduse OÜ, pharmaceutical company Bayer OY, electronics company Panasonic Eastern Europe Handelsgesellschaft m.b.h. and Enprima Engineering OY Estonian branches, pharmaceutical company Bristol-Myers Scuibb Eesti AS and owner of Japanese restaurant Amip Eesti AS, aripaev.ee writes.
In addition, Lithuanian IT company Varos Group Eesti, consultant and investment company registered in Malta Gage Invest and Joshua Invest, investment company Landhall Invest, Parex Finance and Phoenix Balticum will end their business here.
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