Estonia is located in Northeastern Europe, bordered by the Baltic Sea to the west, the Gulf of Finland to the north, Latvia to the south, and Russia to the east. It is divided into 15 counties and 227 local municipalities, with Tallinn as its capital city. Estonian is the official language of Estonia, and the currency is the euro (EUR).
After centuries of German, Danish, Swedish, Polish, and Russian rule, Estonia attained independence in 1918. Incorporated into the USSR in 1940, an action never recognised by the United States, it regained its freedom in 1991 with the collapse of the Soviet Union. Since all the occupational forces left in 1994, Estonia has been free to promote economic and political ties with Western Europe.
Estonia has a modern, market-based economy and one of the higher per capita income levels in Central Europe and the Baltic region. Estonia's successive governments have pursued a free market, pro-business economic agenda and have wavered little in their commitment to pro-market reforms. The current government has pursued relatively sound fiscal policies that have resulted in balanced budgets and low public debt. Estonia's priority has been to sustain high growth rates, which are, on average, 6% per year. The economy benefits from strong electronics and telecommunications sectors and strong trade ties with Finland, Sweden, and Germany.
Estonia joined both the North Atlantic Treaty Organization (NATO) and the European Union (EU) in the spring of 2004. Estonia became the Organisation for Economic Co-operation and Development's (OECD) 34th member country on 9 December 2010. Estonia adopted the euro on 1 January 2011.
At PwC Estonia, more than 160 specialists provide audit, tax, legal, and business advisory services to more than 300 clients, including leading domestic and multinational companies and public services institutions. While we have experience working in all industries represented in Estonia, we have also built particularly strong expertise in areas such as banking, insurance, wholesale trade, consumer goods, forestry, real estate, energy, telecommunications, and infrastructure. The purpose of the Tax Services practice of PwC Estonia is to assist clients in finding tax efficient business solutions and managing tax risks.