The company's first annual report

What is an Annual Report and Who Must Submit It?

An annual report is an overview of a company's financial condition and performance. The annual report is a publicly accessible document and an important trust-building tool for potential business partners.

The submission of the annual report is mandatory for all companies registered in Estonia, even if the company has not conducted any business activities during the fiscal year.

What Period Should the Report Cover?

Typically, a company's fiscal year is 12 months long and coincides with the calendar year (from January 1 to December 31). However, there is an important exception for the first annual report. The reporting period for the first fiscal year can be longer, up to a maximum of 18 months, depending on the company's establishment dates.

If you established your company before July 1, you must submit the first annual report to the Business Register in the following calendar year.

If you registered your company after July 1, you can choose to submit your first report only in the year after the next. Subsequently, the reporting period will be the usual 12 months.

For example, if you established your company on February 14, 2023, the first report must be submitted the following year for the period from February 14, 2023, to December 31, 2023, with a deadline of June 30, 2024.

If you established your company on July 1, 2023, you can submit the report for an 18-month period, with a deadline of June 30, 2025. This allows companies to better plan their business activities and generate profits.

When Must the Report Be Submitted?

According to the law, the annual report must be submitted within 6 months from the end of the fiscal year. Therefore, for most companies established in Estonia, the deadline for submitting the annual report is June 30 every year.

Submitting the annual report may seem complicated at first, but don't worry. With ANN, you can quickly and easily complete your micro-enterprise’s annual report - all the necessary steps have already been thought out for you. If you feel that you still need help or have any questions, just contact us info@minuaastaaruanne.ee - we are here to assist you.