Estonia, Financial Services, Legislation, Port, Taxation, Transport

Estonian joint Tallinn port, which includes the ports of old Tallinn, Muuga, Padilski, Paljasaare, Saaremaa, is managed by the government, reports LETA.

The local municipalities of Tallinn and other cities miss a larger financial contribution from their ports. That is the reason why the municipalities are not interested in further development of their ports. The local municipalities become a barrier of bureaucracy for the port companies.

Tallinn and other municipalities receive only a minimal land rent fee, tax for excavating soil and pollution tax. Klaipeda Municipality does not receive even the former. Therefore, there was an idea raised about the fact that the ports should contribute more to the local municipalities. Similarly to Klaipeda, Tallinn raises an idea that the port is a huge polluter of the local environment.

As reported, Tallinna Sadam approved on Tuesday of last year's business results, which enable the company to pay a record neatly 57 million euros dividend payment, together with dividend income tax, to the state.

According to audited data, turnover of Tallinna Sadam was last year 89.2 million euros and profit after tax 36.4 million euros. Turnover grew by 3% and was the highest ever for the company.

Tallinna Sadam council chairman Neinar Seli said that the company achieved positive results mainly due to more effective internal workings and cutting of costs. The five ports operated by Tallinna Sadam serviced 8.48 million passengers, a growth of 7%. Cargo turnover was 36.5 million tonnes, a fall of 0.5%.