Description
Submitting annual report is mandatory for all the companies registered in Estonia, even if the company doesn’t have any activities during the financial year. The deadline for annual report is within six months from the end of company’s financial year, so if your company’s financial year ends on 31st December, the due date for submitting the report is 30th June.
All the accounting has to be completed before starting to compile the annual report.
Mandatory components of the annual report are management report, balance sheet, income statement and notes to the annual accounts. For larger companies’ cash flow statement and statement of changes in equity are also required.
A management report is necessary to submit the annual report. It needs to be drafted by a board member, but we can help you in the process. In certain cases, an auditor’s evaluation is mandatory. If your company is not dormant, please have look at our regular annual report service.
Included with the Estonian annual report:
- Preparing mandatory reports for annual report (except auditor’s evaluation)
- Submitting the data into Estonian Business Register
- Management report
Important information about annual reports in Estonia:
- Submitting annual report is mandatory even if the company doesn’t have any activities during the financial year.
- Delay in submitting the annual report on time may results in penalties and deleting the company from the Business Register.
*If your company is our accounting client, please contact your dedicated accountant.
1. Who has to submit the annual report?
Submitting annual report is required for all companies registered in Estonia even if there is no activity during the financial year.
2. What happens if I don’t submit the annual report?
When the annual report is not submitted, then the Business Register may decide to delete the company.
3. When is the audit or review of an annual report mandatory?
Audit or review
The audit or review of an annual report is mandatory when at least two of the indicators provided in the annual statement exceed the following conditions:
| Conditions | Audit | Review |
|---|---|---|
| Sales revenue or income | 4 000 000 euro | 1 600 000 euro |
| Total assets as at balance sheet date | 2 000 000 euro | 800 000 euro |
| Average number of employees | 60 employees | 24 employees |
An audit or review is also mandatory for a VAT payer, when at least one of the indicators provided in its annual statement exceeds the following conditions:
| Conditions | Audit | Review |
|---|---|---|
| Sales revenue or income | 12 000 000 euro | 4 800 000 euro |
| Total assets as at balance sheet date | 6 000 000 euro | 2 400 000 euro |
| Average number of employees | 180 employees | 75 employees |
- DESCRIPTION
Submitting annual report is mandatory for all the companies registered in Estonia, even if the company doesn’t have any activities during the financial year. The deadline for annual report is within six months from the end of company’s financial year, so if your company’s financial year ends on 31st December, the due date for submitting the report is 30th June.
All the accounting has to be completed before starting to compile the annual report.
Mandatory components of the annual report are management report, balance sheet, income statement and notes to the annual accounts. For larger companies’ cash flow statement and statement of changes in equity are also required.A management report is necessary to submit the annual report. It needs to be drafted by a board member, but we can help you in the process. In certain cases, an auditor’s evaluation is mandatory. If your company is not dormant, please have look at our regular annual report service.
Included with the Estonian annual report:
- Preparing mandatory reports for annual report (except auditor’s evaluation)
- Submitting the data into Estonian Business Register
- Management report
Important information about annual reports in Estonia:
- Submitting annual report is mandatory even if the company doesn’t have any activities during the financial year.
- Delay in submitting the annual report on time may results in penalties and deleting the company from the Business Register.
*If your company is our accounting client, please contact your dedicated accountant.
- FAQ
1. Who has to submit the annual report?
Submitting annual report is required for all companies registered in Estonia even if there is no activity during the financial year.
2. What happens if I don’t submit the annual report?
When the annual report is not submitted, then the Business Register may decide to delete the company.
3. When is the audit or review of an annual report mandatory?
Audit or review
The audit or review of an annual report is mandatory when at least two of the indicators provided in the annual statement exceed the following conditions:
Conditions Audit Review Sales revenue or income 4 000 000 euro 1 600 000 euro Total assets as at balance sheet date 2 000 000 euro 800 000 euro Average number of employees 60 employees 24 employees An audit or review is also mandatory for a VAT payer, when at least one of the indicators provided in its annual statement exceeds the following conditions:
Conditions Audit Review Sales revenue or income 12 000 000 euro 4 800 000 euro Total assets as at balance sheet date 6 000 000 euro 2 400 000 euro Average number of employees 180 employees 75 employees
