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Annual Report in Latvia

150.00 

Every company registered in Latvia has to submit annual report to the State Revenue Service (SRS). It has to be prepared in Latvian and in the currency officially applicable in Latvia (EUR).

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Description

Submitting Annual Report is mandatory for all the companies registered in Latvia, even if the company doesn’t have any activities during the financial year. The deadline for Annual Report is usually within four 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 April.

All the monthly accounting has to be completed before starting to compile the annual report.

Included with the annual report in Latvia:

  • Balance sheet
  • Income statement
  • Cash flow statement
  • Changes in equity
  • Notes to the financial statements
  • Management report
  • Submitting the report (It can be delivered as a hard copy to SRS or in electronic form using the SRS Electronic Declaration System (EDS). If you grant 1Office the access, we can do this for you).

If the accounting for the financial year has not been done (or is not done correctly), an additional fee based on accountants working hours will be added to the price. The exact content and the form of the annual report depends on the size and business of the company.

Process flow:

  • In case your company´s accounting is not done by 1Office, we need you to send us documents (bank statements, purchase- and sales invoices) so we could make the offer
  • We agree on the volume of the work needed and the final price
  • As soon as we have all the necessary documents we will go over them and compile them into the annual report
  • We hand the compiled report over to you so you could submit it to SRS or in case you have granted access to us, we will submit the report for you.

* As an exception some companies have seven months to submit the consolidated Annual Report.

1. Who has to submit the annual report?

Annual report has to be submitted by all commercial companies, cooperative companies, European Economic Interest Groupings, European cooperative companies and European commercial companies registered in Latvia.

2. What happens if I don’t submit the annual report?

Not submitting annual report might result in a penalty. The companies who have submitted their annual report with a delay have limited opportunities to participate in public procurement.

DESCRIPTION

Submitting Annual Report is mandatory for all the companies registered in Latvia, even if the company doesn’t have any activities during the financial year. The deadline for Annual Report is usually within four 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 April.

All the monthly accounting has to be completed before starting to compile the annual report.

Included with the annual report in Latvia:

  • Balance sheet
  • Income statement
  • Cash flow statement
  • Changes in equity
  • Notes to the financial statements
  • Management report
  • Submitting the report (It can be delivered as a hard copy to SRS or in electronic form using the SRS Electronic Declaration System (EDS). If you grant 1Office the access, we can do this for you).

If the accounting for the financial year has not been done (or is not done correctly), an additional fee based on accountants working hours will be added to the price. The exact content and the form of the annual report depends on the size and business of the company.

Process flow:

  • In case your company´s accounting is not done by 1Office, we need you to send us documents (bank statements, purchase- and sales invoices) so we could make the offer
  • We agree on the volume of the work needed and the final price
  • As soon as we have all the necessary documents we will go over them and compile them into the annual report
  • We hand the compiled report over to you so you could submit it to SRS or in case you have granted access to us, we will submit the report for you.

* As an exception some companies have seven months to submit the consolidated Annual Report.

FAQ
1. Who has to submit the annual report?

Annual report has to be submitted by all commercial companies, cooperative companies, European Economic Interest Groupings, European cooperative companies and European commercial companies registered in Latvia.

2. What happens if I don’t submit the annual report?

Not submitting annual report might result in a penalty. The companies who have submitted their annual report with a delay have limited opportunities to participate in public procurement.

PROCESS FLOW

 

* We receive the need for company’s annual report and agree on the volume of the work (depends on the size of the company etc.)

* We need the balance sheet and income statement of the previous financial year

* If the accounting of your company’s previous financial year has not been done we need accounting source documents

* If your company needs to be audited or reviewed, we also need auditor’s opinion

* We go over the documents and compile it to annual report

* We submit the annual report to Commercial Register

FAQ

1) When is the audit or review of an annual report mandatory?
Info from here: https://1office.co/estonia/services/accounting/annual-report/

2) Who has to submit the annual report?
Submitting annual report is obligatory for all undertakings operating in Estonia, even if there is no activity during the financial year.

3) What happens if I do not submit the annual report?
When the annual report is not submitted, then eventually the Commercial registry may decide to delete the company.

4) More questions needed and coming, probably have to read through sales department inboxes

TESTIMONIALS

  1. 1Office made submitting annual report very easy for us. Thank you!
  2. Very quick service, I ordered the annual report in 2nd of February and it was submitted already by 5th of February and they gave me a nice discount too, because there is still time to submit the annual report for a few months.
  3. blabla, maybe some real customer reviews too 😀

SPECIAL OFFERS/PROMOTIONS

-25% until the end of February

Request an estimation

To evaluate the volume of the work needed, we need some additional information. Please send us your specific needs and questions so we could send you a price offer.

We will reply to you within 1 working day

You can also send us an e-mail to sales@1office.co or contact us via chat option straight from the web.





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