1Office is frequently asked whether it is compulsory to provide details to the Statistics Estonia and what are the consequences if you did not. Until now the Statistics Estonia has stressed the importance of providing details, however, from this summer it will begin fining companies that do not submit details in a timely manner.
Providing details about your business is compulsory
According to the legislation, companies chosen by the Statistics Estonia must provide details in an annual questionnaire regarding the company by 1st July. Statistics Estonia utilizes this information to measure the growth of development in the country.
Sadly, only 30% of companies take the time to complete the questionnaire. The Council attempts to reach the remaining 70% of companies by phone or email to stress the importance of completing the questionnaire. In doing so, it accrues additional costs that use up nearly half of the Statistics Estonia’s budget.
The Managing Director of the Statistics Estonia Andres Oopkaup announced on 10th June that the Statistics Estonia will start fining companies who do not complete the questionnaire. The fine for not doing so is €300. His aim is to encourage more companies to submit the questionnaire so there is no need to issue fines.
The details requested by the Statistics Estonia are largely the same as those of the annual financial report. Therefore, the Statistics Estonia recommends filling it in once you have finalized the financial report required by the Business Register. The required details will be copied from one report to the other so the majority of the information is pre-filled.
Source: Äripäev, 10.06.2016