ESTONIA: Tax hikes hit fisheries hard
Tough export tax regulations imposed in Estonia at the beginning of the year are causing fish processors to lose EKr10m per day. Companies are having to make employees redundant as "there is no point in producing goods for warehouses," says Fisheries Association managing director Valdur Noormets. Maseko is likely to stop production at its Narva operation, affecting 500 employees, while Haapsalu-based Hako (250 employees) and Tallinn-based Makrill (80 employees) are also looking vulnerable.
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