Why Does Your Company Have to File an Annual Report?
First and foremost, submitting the annual report is essential if your company has realized profits during the fiscal year and you intend to distribute these earnings as dividends.
On the other hand, unless your company was registered after July 1st of the previous year, submitting the annual report is mandatory according to the Estonian Commercial Code.
Failing to submit the annual report on time can have consequences:
The authorities can fine you as a company and as an individual. In fact, your company can be subject to fines ranging from €200 to €3000 if your annual report is not completed before the deadline.
Additionally, there is a risk that your company could be removed from the register. Before this happens, the court will send you a notice via email with a new deadline for submission. For this, you need to have your official company email registered in the e-Business Register.
If you fail to meet this deadline and continue to refuse to prepare and submit the annual report, the e-Business Registry or EMTA may end up closing your company.
On the other hand, unless your company was registered after July 1st of the previous year, submitting the annual report is mandatory according to the Estonian Commercial Code.
Failing to submit the annual report on time can have consequences:
The authorities can fine you as a company and as an individual. In fact, your company can be subject to fines ranging from €200 to €3000 if your annual report is not completed before the deadline.
Additionally, there is a risk that your company could be removed from the register. Before this happens, the court will send you a notice via email with a new deadline for submission. For this, you need to have your official company email registered in the e-Business Register.
If you fail to meet this deadline and continue to refuse to prepare and submit the annual report, the e-Business Registry or EMTA may end up closing your company.
Updated on: 15/11/2023
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