Reporting for companies

After setting up a company, company's manager gets some legal responsibilities that must be fulfilled. Below you can find a list of mandatory reportings.

1. Annual report

Each company has an obligation for annual report submission. The deadline of submission is 6 months after the financial year is finished: e.g. if the financial year is the same as a calendar year (01.01-31.12) then the deadline is 30.06.

The financial year is marked in the company's statute. The first and the last report can last a maximum of 18 months.

Annual report can be submitted to Commerical Register.

2. TSD declaration

TSD declaration is related to salaries, dividends, fringe benefits, non-business related costs, gifts, donations etc. More info can be found at the Tax Authorities website.

TSD declaration does not need to be fulfilled if no declared items occurred.

The deadline for TSD declaration submission & taxes payment is 10th date of the next month. The calendar with deadlines can be found here.

TSD declaration can be submitted via the Tax Authorities website.

3. VAT declaration

VAT declaration (called "KMD") must be submitted only by those companies which have a VAT number.

VAT declaration needs to be submitted in any case, i.e. even if the company had no activities in the taxable period.

The deadline for VAT declaration submission & taxes payment is 20th date of the next month. The calendar with deadlines can be found here.

VAT declaration can be submitted via the Tax Authorities website.

4. Supportive documents

Each transaction of the company needs to have a supportive document. This requirement comes from Accounting Act § 12. The documents must be stored for 7 years. There is no obligation of keeping the documents on paper if they are available in electronic format.

Salary-related agreements must be stored for 10 years after the agreement was terminated (Employment Contracts Act § 5).

A supportive document can be an agreement (e.g. in the case of loans), an invoice (for sales and purchases), bank account printout (for bank charges).

5. Statistic

Some companies need to present statistical reports to Statistics of Estonia. Regularly companies with over 50 employees fall under this requirement. In some cases, the requirement depends on the turnover or other data.

Whether your enterprise is required to submit any questionnaires can be checked on Statistics Estonia’s website under the menu item “Submit data – “Obligation to submit data”. Before such an obligation arises, Statistics of Estonia informs the company via e-mail.

The data can be submitted by using the electronic data submission environment eSTAT.

6. Employee-related reporting:

6.1 Reports to the Health Insurance Fund

In case of incapacity for work, a certificate of incapacity should be presented to the Health Insurance Fund.

6.2 Registration of Employment

As an employer must register its employees in the employment register via Tax Authorities website. Commencement of the employment must be recorded latest by the moment when the employee starts the work.

7. Other

There can be other obligatory reporting, depending on the company's field.

P.S. If you need more detailed info regarding obligatory reporting and taxation, we have prepared a video lecture for you which can be found here.