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string(154) "lalala: AND wp_posts.post_parent = 21914 AND wp_posts.post_type = 'acf-field' AND ((wp_posts.post_status = 'publish' OR wp_posts.post_status = 'trash'))" string(154) "lalala: AND wp_posts.post_parent = 21928 AND wp_posts.post_type = 'acf-field' AND ((wp_posts.post_status = 'publish' OR wp_posts.post_status = 'trash'))" string(154) "lalala: AND wp_posts.post_parent = 22027 AND wp_posts.post_type = 'acf-field' AND ((wp_posts.post_status = 'publish' OR wp_posts.post_status = 'trash'))" string(153) "lalala: AND wp_posts.post_parent = 4190 AND wp_posts.post_type = 'acf-field' AND ((wp_posts.post_status = 'publish' OR wp_posts.post_status = 'trash'))" string(152) "lalala: AND wp_posts.post_parent = 189 AND wp_posts.post_type = 'acf-field' AND ((wp_posts.post_status = 'publish' OR wp_posts.post_status = 'trash'))" Accounting support in Estonia - Nexus string(250) "lalala: AND ( wp_postmeta.meta_key = '_elementor_priority' AND ( ( mt1.meta_key = '_elementor_location' AND 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Accounting support in Estonia

Preparation of reports for Estonian companies and submission to tax authorities


Filing an annual tax return


Tax, accounting and audit advice

Free consultation

Estonia is a business-friendly country with a simple taxation and reporting system. All companies in Estonia must file annual financial statements with the Estonian Commercial Register (Eesti Äriregister).

How can we be useful to you?

Preparation of the annual report

We will help you prepare a report based on your primary documents in a timely manner.

Tax return

We will help you fill out and submit a tax return, as well as pay the necessary taxes on time

Consulting

We will help you pay taxes and represent your interests before the Estonian tax authorities

Features of reporting in Estonia

Reporting period of the companies in Estonia

Calendar year

Frequency of reporting

Annually

Reporting deadline

6 months after the end of the reporting period

Cost of preparing reports

from 800 euros*

* The cost of the service depends on the number of transactions you make and can be adjusted after the initial consultation

Features of reporting in Estonia

ESTONIA

If a company has no turnover, it still has to submit financial statements. All companies registered in Estonia must submit financial statements to the Estonian Commercial Register (Eesti Äriregister).

– The reporting period is a calendar year.

– The financial statements in Estonia are prepared in accordance with International Financial Reporting Standards (IFRS) and comprise an income statement, a balance sheet, a cash flow statement, a statement of equity and notes to the financial statements. IFRS are mandatory for all public companies in Estonia. Private companies can choose whether to prepare financial statements in accordance with IFRS or local financial reporting standards. However, international standards are preferred because they are readable and understandable in more than 140 countries.

– If a company has no turnover, it may not submit financial statements. But then you will need to submit a statement to the Estonian Commercial Register (Eesti Äriregister) that your company does not conduct business. In turn, the Register may initiate the liquidation of such a company. Therefore, we still recommend preparing and submitting reports, even if there have been no movements in the company.

The reports must be signed by the company’s director.

Procedure for preparing reporting in Estonia

Collection of documentation

– Incoming and outgoing invoices or sales uploads from the marketplace;

– Statements of all company accounts;

– Description of the business – sales channels, information on the movement of goods from seller to buyer, product category.

Preparing and submitting reports

– Processing of incoming information;

– Preparation of declarations and their approval with the client;

– Sending reports to the tax authorities of the respective country;

– Checking and signing CPA declarations;

– Control of tax payments;

– Resolving difficulties and disputes (if any).;

To start cooperation, please contact us in any convenient way:

leave a request

on the website

write to our mail

client@nxdigitalagency.com

or call the number

+38 093 171 2818

The initial legal consultation is free of charge and does not oblige you to do anything.

Information help

If my company is not operating, do I have to prepare reports?

Yes, an Estonian company that does not conduct business must file accounts. According to Estonian law, all companies registered in Estonia must submit an annual report to the Estonian Ministry of Finance. The annual report must be submitted within 12 months after the end of the company’s financial year.

If I have just registered a company, when will its first reporting period end and how much time will I have to submit reports?

In Estonia, the fiscal year usually coincides with the calendar year, but it can be different. If a company is not incorporated at the beginning of the year, its first accounting year will depend on the financial year chosen by the company. If the company has chosen the calendar year as its financial year, its first reporting year will be from the date of incorporation to 31 December of the same year in which it was incorporated. If the company has chosen a different financial year, its first reporting year will correspond to that chosen financial year.

What are the sanctions for non-compliance with reporting requirements?

Estonian companies may be fined by the Estonian Ministry of Finance for non-compliance with reporting requirements. The amount of the fine depends on the period of delay in submitting the reports and the severity of the violation. The fine can range from EUR 100 to EUR 10,000. If a company fails to submit reports for three consecutive years, it may be excluded from the Estonian company register. This means that the company will be considered to have ceased to exist. In addition to fines, other sanctions may be imposed for non-compliance with reporting requirements, such as
– seizure of the company’s property;
– enforcement of debt collection;
– suspension of the company’s operations;
– liquidation of the company.
In order to avoid fines and other sanctions, it is important to submit reports to the Estonian Ministry of Finance in a timely manner and in full.

Which state authorities should an Estonian company submit its financial statements to?

The financial statements of an Estonian company must be submitted to the following state authorities:
– The Estonian Commercial Register (Äriregister);
– Estonian Tax and Customs Board (Maksuja Tolliamet);
– State Treasury of Estonia (Riigikassa). The Estonian Commercial Register accepts the company’s annual report, which must be submitted within six months after the end of the reporting period. The Estonian Tax and Customs Board accepts the company’s tax return, which must be submitted within four months after the end of the reporting period. The Estonian State Treasury accepts the company’s return on investment income, which must be submitted within two months after the end of the reporting period.

Is it possible to keep and file accounts independently in Estonia and how easy is it to do so?

Any person with the appropriate knowledge and skills can prepare the accounts for an Estonian company. However, it is best to have the accounts prepared by a qualified accountant or auditor. An accountant or auditor can ensure that the accounts are prepared in accordance with Estonian law and international financial reporting standards. If you want to prepare the accounts yourself, you should first check the official resources: https://www.emta.ee/ua

Get a free accounting consultation from our specialist

“Properly prepared reporting is not just a formal requirement, but a powerful tool that helps to optimise processes and manage the company with maximum benefit, it is the key to successful company management.”

Kateryna

Accountant

Get a consultation

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