ANNUAL REPORT

Annual Financial Reporting for Estonian Companies

An annual report is not just a legal obligation, but also an opportunity to demonstrate the transparency and efficiency of your business. It provides valuable information about financial results and helps build trust among partners and investors.

Accuracy in details, reliability in business

We are a team of professionals in accounting, offering quality services with a personal approach. Your business is in safe hands when it comes to financial reporting.

Preparing an annual report – starting from 150 euros

Our task is to simplify the process of submitting an annual report, saving your time and resources. We guarantee that your annual report will be prepared in accordance with all standards and requirements, avoiding potential errors and delays.

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Do you need to submit an annual report?

In the world of business, especially in Estonia, an annual report is not just a formality, but your business card in the financial community. It reflects not only the current state of your company but also its potential and reliability.

Timely and accurate submission of the annual report not only meets legal requirements but also builds trust among your investors, partners, and clients. In this article, we will look at the key points of submitting an annual report in Estonia to help you in this important aspect of doing business.

Do you need help preparing and submitting an annual report?

Our team of experienced accountants is ready to offer you their services. We specialize in preparing annual reports for businesses in Estonia and guarantee accuracy, professionalism, and adherence to all deadlines.

Our services start from 150 euros. Don’t miss the opportunity to provide your business with reliable financial support. Contact us today to get a personalized offer!

What is an Annual Report?

For an active entrepreneur in Estonia, an annual report is much more than just a set of numbers and tables. It’s a comprehensive document that tells the story of your business over the past year. It includes:

Accounting Balance

Reflects the financial position of your enterprise at a specific date. This includes assets, liabilities, and company capital.

Profit and Loss Statement

Shows the company’s income and expenses for the year, revealing your profit or loss.

Cash Flow Statement

Provides information on how cash was received and used during the year.

Statement of Changes in Equity

Displays changes in the company’s equity over the reporting period

Additional Information

Includes various explanations and supplements that may be required depending on the specifics of your business.

Obligation and Deadlines for Submission
Consequences of Late Submission
The Reporting Submission Process

In Estonia, every enterprise, regardless of size or field of activity, is obliged to submit an annual report. This is not just a formality, but an important aspect of your business that highlights your responsibility and transparency to the state and society.

The main deadline to remember: the annual report must be submitted to the Estonian Commercial Register within six months after the end of the financial year. This means that if your financial year coincides with the calendar year, the last day to submit the report is June 30 of the following year. Given the importance of this deadline, it is recommended to start preparing for the submission of the report in advance to avoid rush and potential errors.

Not submitting the annual report on time, companies in Estonia risk facing serious consequences. This is not just a matter of fines and financial losses, but also a matter of your business reputation.

If the annual report is not submitted within the established deadlines, the Commercial Register may first issue a warning and provide an additional deadline for its submission. However, if the report is still not submitted after this, fines may be imposed on the company. In extreme cases, non-compliance with this requirement may lead to the initiation of the company’s compulsory liquidation process.

These measures underline not only the legislative, but also the ethical obligation of companies to maintain transparency and openness in their financial reporting. Therefore, timely submission of the annual report is not only a legal necessity but also an important element of corporate culture.

Submitting an annual report in Estonia has become more convenient and accessible thanks to the ability to provide reporting electronically. The main channel for this is the online portal of the Commercial Register, which allows businesses to easily and quickly send the necessary documents.

For access to this portal, the company director (or authorized person) will need a valid electronic signature – ID card, e-Residency, or Mobiil-ID. This ensures the security and authentication of the documents.

However, if all the directors of your company are non-residents and do not have an Estonian personal code, there is an alternative way of submission. You can sign the annual report manually and then provide a scanned copy to the Commercial Register. In any case, remember that the accuracy and completeness of the information provided are critical.

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We are here to help you with every aspect of preparing and submitting your annual report. If you have any questions or want to discuss the individual needs of your business, feel free to contact us.

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Questions and Answers

What is the annual report of an Estonian company?

An annual report is a detailed document reflecting the financial activities of a company over the past year. It includes a balance sheet, profit and loss statement, cash flow, and other important information.

What are the deadlines for submitting an annual report?

The annual report must be submitted to the Commercial Register within six months after the end of the financial year. For most companies, this means by June 30.

Is it mandatory to audit the annual report?

An audit is required if the company meets certain criteria, such as exceeding thresholds for assets, turnover, or staff size.

Can the annual report be submitted in English?

All documents submitted to the Estonian Commercial Register must be in Estonian.

What happens after the annual report is submitted?

After submission, the Commercial Register checks the documents and, if necessary, may request additional information or clarifications.

Is it necessary to submit an annual report if the company did not conduct any activity?

Yes, even if your company did not conduct active business, the submission of an annual report remains mandatory. In such cases, a so-called “zero report” is submitted.

What are the fines for late submission of the report?

Fines for late submission can vary, but generally, they start from small amounts and can increase in the event of repeated violations.

Can I get help preparing the annual report?

Yes, you can turn to professional accountants and consultants, like our company, for assistance in preparing and submitting the annual report.

What if I find an error in the annual report already submitted?

If you find an error in the annual report after its submission, you need to submit a corrected report to the Commercial Register as soon as possible.

Can I submit the annual report myself?

Yes, you can prepare and submit the annual report yourself through the online portal of the Commercial Register, but you need to ensure the accuracy and completeness of all data.