The move is aimed at helping companies mired in financial difficulties caused by the Russian crisis, which has had an effect on the Estonian economy.
A tax liability is a tax, interest or a customs debt that has not been paid by the taxpayer on time.
"The new interest rate is like a favorable opportunity to borrow. Compared to the average market, the interest is rather low," said Lemmi Oro, the deputy head of the tax policy department at the Ministry of Finance. "The present 0.07 percent daily interest rate means an annual rate of 25.2, while the new one is 12.6 percent."
The tax liability interest rate in Latvia is 0.05 percent, and in Lithuania, 0.06 percent.
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