First reading of the Draft Act amending the Accounting Act (428 SE)
Session: 15th Riigikogu, 3rd session, plenary sitting
Date: 2024-06-06 07:56
Participating Politicians:
Total Speeches: 5
Membership: 15
Agenda Duration: 2m
AI Summaries: 5/5 Speeches (100.0%)
Analysis: Structured Analysis
Politicians Speaking Time
Politicians
Analysis
Summary
The first reading of Draft Act 428, initiated by the Government of the Republic, amending the Accounting Act, is on the agenda of the Riigikogu. The objective of the draft act is to improve the use of e-invoices and reduce the obstacles in the private sector that hinder the wider adoption of e-invoices. The draft act eliminates the double standards between Estonian and European e-invoices, retaining only the European standard. Furthermore, the obligation to always submit only e-invoices to public sector entities is abolished, but at the same time, the right is established to require the seller to submit e-invoices to those accounting entities who are registered as e-invoice recipients in the Commercial Register, covering all public sector entities.
The direction of procedural activities has been approved in the discussion: the Economic Affairs Committee dealt with the draft act during two sittings (on May 14 and 27). On May 27, a procedural decision was made to place the draft act on the plenary agenda on June 5, 2024, and to propose concluding the first reading. Finally, negotiations are opened, and the proposal of the lead committee is to conclude the first reading, resulting in the following confirmations regarding deadlines and the conclusion of the proceedings: the deadline for submitting amendments is June 20 at 17:15, and the processing of the agenda item is concluded.
Decisions Made 2
A procedural decision to include the draft bill on the plenary session agenda for June 5, 2024, and to propose concluding the first reading. This action is based on the motion submitted by the current speaker.
The first reading was concluded; the deadline for the matter permitted by the Board and for submitting amendments is June 20th at 5:15 PM; consideration of the agenda item is concluded.
Most Active Speaker
The most active participant was the current speaker, who was referenced during the processing of the draft bill. He holds the position of Chairman of the Economic Affairs Committee; his political spectrum classification lists his membership origin as "other" (the exact left-right division of the political spectrum is not clearly defined in the material provided).
Aseesimees Toomas Kivimägi
AI Summary
I am greatly pleased to see the Minister of Finance in the chamber, and I invite the honorable Minister of Finance, Mart Võrklaev, to the Riigikogu podium for his report, as the first reading of Draft Act 428, the bill amending the Accounting Act, initiated by the Government of the Republic, is on the agenda.
Rahandusminister Mart Võrklaev
AI Summary
Finance Minister Mart Võrklaev said that the draft legislation simplifies the circulation of e-invoices, reduces the administrative burden, and removes obstacles for the private sector. It also harmonizes the Estonian and European standards, abolishes the current obligation to always submit only e-invoices to the public sector, and grants registered e-invoice recipients the right to demand that sellers submit e-invoices.
Aseesimees Toomas Kivimägi
AI Summary
Deputy Speaker Toomas Kivimägi thanked the participants and noted that there were no questions, before inviting Jaak Aab, Chairman of the Riigikogu Economic Affairs Committee, to deliver his report.
AI Summary
The Economic Affairs Committee discussed Bill 428 concerning amendments to the Accounting Act over two sittings and unanimously decided to place the bill on the plenary agenda for June 5, 2024, and propose the conclusion of the first reading.
Aseesimees Toomas Kivimägi
AI Summary
Toomas Kivimägi announced that the first reading of Draft Bill 428 has been concluded, and the deadline for submitting amendments is 5:15 PM on June 20th of this year.