About
Tõnu Kolts is a Managing Associate at COBALT Estonia, specializing in tax law, corporate restructuring, and equity compensation plans. He co-leads COBALT’s tax advisory services and the Private Wealth industry group in Estonia.
Internationally recognized as a tax expert, Tõnu advises domestic and international clients on complex tax matters. He has played a key role in several of Estonia’s most significant transactions, providing tax-efficient structuring solutions for mergers, acquisitions, and reorganizations.
Alongside his tax practice, Tõnu has extensive experience in equity compensation, helping businesses design and implement tailored incentive schemes — from local stock option programs to global equity strategies — with a focus on compliance and strategic alignment.
Before joining COBALT, Tõnu worked as a tax advisor at a Big Four firm in Estonia. He has been a member of the Estonian Bar Association since 2015 and, since 2020, serves on its Tax Law Committee.
- Tax – Leading Associate, The Legal 500 2025
- Tax controversy – Rising Star, ITR World Tax 2025
- Tax – Associates to watch, Chambers Europe 2025
- Tax – Rising Star, The Legal 500 2024
Languages
- Estonian, English
Membership & education
- Estonian Bar Association’s Tax Law Committee (since 2020)
- Estonian Bar Association (2015)
- Master of Arts in Law (M.A.) , University of Tartu, Faculty of Law, Estonia (2010)
- Bachelor of Arts in Law (B.A.), University of Tartu, Faculty of Law, Estonia (2008)
