Accounting

From 100 EUR – low activity

Monthly accounting is required if the company has a VAT registration number and makes payments taxable with Income or Social tax.

The deadline for the VAT declaration is the 20th date and the income tax is on the 10th date of the following month.

Source documents (invoices, bank statements, agreements, etc.) needed for the monthly accounting must be presented at least 5 days before the tax declaration deadline.

From 50 EUR - per month 

If the company has Estonian employees, Estonian salary taxes apply, and payroll taxes are paid in Estonia. Payroll taxes are due every month by the 10th date of the following month of the payment.

If the employees are tax residents of other countries and work is done outside of Estonia, the Employee’s tax resident country’s laws apply.

According to the existing laws in Estonia, there’s no obligation to pay management board member fees, employee salaries, or dividends. It’s up to the owner what payments are made in what combination, considering the actual contribution (active vs passive income) to the business activities.

From 60 EUR – dormant report

If a company has a VAT ID, a tax declaration must be submitted to the Estonian Tax Board monthly. If a company has no activity, zero return is needed. If a company supplies goods or services in the European Union, a report on intra-community supply is needed. The deadline for the VAT return and report on intra-community supply is the 20th date of the following month.

When a company is part of the OSS scheme, quarterly reporting to the Tax Board is needed with a deadline of one month of the following quarter.

Tax payment deadlines are matching with the reporting deadline.

From 160 EUR – dormant report

The company should prepare and submit an annual report to the Commercial Register yearly by 30th June, or six months after the end of the financial period. The annual report has to be submitted even if there’s no activity.

The preparation of annual reports depends on the complexity of the company’s activity, transaction, and structure. If a company has been dormant, reporting is quick and quite simple after the accountant has been given access to the reporting portal. If a company has had transactions, the accounting service provider will give an estimated time frame, fee quote, and instructions for submitting the report.

150 - 400 EUR - per application

An obligation to register as a VAT person shall arise for the company as of the date on which the taxable supply of his or her transactions exceeds 40,000 EUR as calculated from the beginning of a calendar year. Before exceeding the 40 000 EUR sales, the registration is voluntary. If a company has a VAT ID, accounting needs to be monthly basis and these declarations should be submitted to the Tax Office.

If a company is not registered with VAT but is purchasing digital or consulting services outside of Estonia, the Estonian company needs to be registered as a limited VAT liable person, calculate and pay 22% VAT. More information about the VAT approach can be provided during consultation.

60 EUR – per report

Commercial Register fines companies when they don’t fulfill requirements set by Acts. The penalty will be determined when a company has not submitted the annual report by a deadline or it’s missing some other detail on the Business Register, and also if a company is not filing tax reports.

When a penalty is paid, additional declaration is required by the Estonian Tax Board. To submit the report, the accountant needs access to an online Tax system.

100 EUR – per (dormant) report

In the company liquidation process, the intermediary liquidation reporting is needed. Depending on the liquidation option, one or two (sometimes even more) reports are required to submit to Register.

150 EUR - set up fee

We use online accounting software which is easy to access and use. All documents can be shared electronically. Several applications can be integrated with software when sharing documents.

150 EUR/hour - fee applies

If you are thinking of setting up an Estonian company or you already have an Estonian Company and you need any accounting, taxation, or reporting-related assistance, our accounting professional’s team is happy to assist.