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.
