Basics
Annual Report Explained
The annual report is a document that Estonian companies must write and submit to the authorities after the fiscal year has passed (usually within the following six months). It contains all the transactions, movements, and operations of the company. Additionally, the annual report allows you to distribute the profits from the previous fiscal year (if applicable) as dividends. Until the annual report is submitted, your company cannot distribute dividends.Some readers5-Step Annual Report Submission With Companio
Preparing your annual report with Companio is very easy! You just have to follow these 5 steps. STEP 1: Payment When the annual report preparation begins, you will receive notifications through our newsletter, emails, and notifications on the platform. To start, access the Companio platform and click on "Let's go!" to prepare your annual report and make the payment. Once the payment is completed, a new annual report will be created, and your assigned accountant will be notified to start tPopularWhy 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 consFew readersHandling Unmatched Transactions for Annual Reports
During the annual report period, our team can ask you to match some transactions that weren't matched with the right documents during the previous year. Sometimes it can be confusing to understand how to match these transactions. Don't worry, here’s how to easily handle them: Incoming Money (Positive Amount in Bank Transactions) Advance Payment from aFew readers
Payments & Requisites
Price of Submitting the Annual Report With Companio
If you want to submit the annual report for the current period (e.g., in January 2025, you wish to submit the annual report for 2024), the price is €250 + VAT. If you want to submit the annual report for previous years (e.g., if you are going to submit the report for 2022 or 2023 in January 2025), it is considered a "late" annual report. In this case, the price is €500 + VAT.Few readersHow to Grant Companio Permission (PoA) for the Annual Report
To grant us permission (PoA) to prepare your annual report, please follow these steps: Step 1: Log in to the eesti.ee Portal Access eesti.ee, the official gateway to e-services and information provided by the Estonian government with your e-resident ID. If the portal is not in English, select the appropriate language on the top-right corner. (https://storage.crisp.chat/users/helpdesPopularWhy Are You Now Asking For Additional Documents for the Annual Report That You Didn’t Request in Previous Years?
At Companio, we aim to adhere to Estonia's accounting and tax laws, which involve the proper documentation and recording of all financial transactions. To ensure we meet these legal deadlines, we send monthly reminders for you to upload your invoices by the fifth day of the following month. If you're late, our accountants will initially record these as "prepayments" to align with tax requirements. That means the transactions are supposed to be payments waiting for a document or invoice.Few readers
Preparing, Submitting & Signing The Annual Report
How Do I Sign My Company’s Annual Report?
ACCESS THE E-BUSINESS REGISTER Log in to the e-Business Register website with your e-resident card to sign your annual report. Then, click "Submission of a report" and "Submission of the annual report." Next, you will see the report listed under "Annual reports to be submitted" in the "Incomplete reports" section. Then, next to the incomplete report, you will see twoSome readersI Have Losses, What Can I Do?
Preparing the annual activity report of your company is the most demanding procedure required for the correct accounting and bookkeeping of your company. What’s inside that annual report? It’s a collection of all fiscal elements that defined the activity of your company in that fiscal year. It must contain everything, from your invoices, documents, and bank movements to taxes paid, VAT, etc. That’s the reason why we ask for any missing information when we start preparing it at the beginningSome readersHow to Declare Dividend Distribution in the Annual Report?
When distributing dividends for your Estonian business, it is essential to understand the process. First, you must fill in the "Profit distribution resolution" section when reviewing your annual report. This section includes the amount you plan to distribute in dividends and the calculation of your retained earnings after distribution. For example, if you plan to distribute €30,0Some readersHow to Distribute Dividends?
When Can I Distribute Dividends? Dividends can only be distributed after we prepare and submit the annual report, and only if the annual report shows profit and dividends were declared by the business owners. Once the annual report is submitted, dividends can be distributed up to the maximum specified. How Many Taxes Do We Pay?Some readersUnderstanding the Statement of Financial Position
The "Statement of Financial Position" within the context of an Estonian company's annual report is a financial statement that offers a comprehensive view of the company's financial status at a specific moment in time. This statement encompasses the company's assets, liabilities, and equity. In Estonia, it is mandatory for all companies to submit the annual report within six months following the end of the fiscal year. Typically, the annual report in Estonia includes the balance sheet, incFew readersUnderstanding the Profit and Loss Statement in Your Annual Report
The Profit and Loss statement outlines the company's income and expenses during the reporting period, offering insight into its economic performance, including revenue, expenses, and profit or loss. It comprises several sections: Revenue: Total income from sales or services. Other Income: Additional income from sources unrelated to primary business activities. Raw Materials and Consumables Used: Costs associated with production materials and consumables. These are items essenFew readersHow To Download Your Annual Report
Once the annual report has been prepared by our team, you are asked to sign it before we submit it to the authorities. However, if you no longer have access to the report, you can download it anytime from the registry by following these instructions: First, log in to the e-Business Register with your e-Residency ID card. Next, go to "Submission ofFew readers