Accounting services for an Estonian company

There are two different accounting routines depending of the company VAT ID status


Monthly basis accounting

Company with VAT ID must submit tax returns monthly basis.
It applies even if no transactions are done.

Yearly basis accounting

Company without a VAT ID and taxable costs (salaries, dividends, fringe benefit costs, etc.) has no obligation to submit any monthly tax returns



Monthly or quarterly accounting routines

  1. Income and social tax returns - latest on the 10th day of next month.
  2. VAT returns - latest on the 20th day of next month.
  3. Taxes (if there are any) must be paid at the latest by above-mentioned dates.
  4. If the company has had business transactions with other EU companies (with VAT ID), then corresponding VIES declarations and Intrastat declarations must be submitted as well.
  5. Some companies (selected randomly) must also submit statistics reports.

After the end of the company's fiscal year (which usually ends on 31st Dec), it must submit an annual report to the Estonian Tax and Customs Board within 6 months (usually latest on 30th June).

Yearly accounting routines

After the end of the company's fiscal year (which usually ends on 31st Dec), it is necessary to submit an annual report to the Estonian Tax and Customs Board within 6 months (usually latest on 30th June).

However, in case your company has many business transactions, it might be reasonable to take care of the company's accounting more frequently than once a year.

In case your company has some taxable payments (salaries, dividends, fringe benefit costs, etc.), then corresponding tax returns and taxes must be taken care of based on these payments. If this happens on a monthly basis, the reports must be submitted every month. If these payments occur irregularly (one-time basis), there is no need for monthly reports, only relevant tax returns must be submitted at the appropriate time.


What we need for accounting



Monthly bases accounting

  1. Company bank account statement for the previous month
  2. All purchase invoices and receipts from previous month
  3. All sales invoices and receipts from previous month (in case of using our online accounting system the are available to us automatically)
  4. If some business transactions are not covered with sales or purchase invoices then please provide other supporting documents (contracts etc.)
  5. Purcahse and sales contracts of real estate (if there are any)
  6. Purchase and sales contracts of shares of other companies (if there are any)

Yearly bases accounting

  1. Company bank account statement for full fiscal year
  2. All purchase invoices and receipts for full fiscal year
  3. All sales invoices and receipts for full fiscal year
  4. If some business transactions are not covered with sales or purchase invoices then please provide other supporting documents (contracts etc.)
  5. Purcahse and sales contracts of real estate (if there are any)
  6. Purchase and sales contracts of shares of other companies (if there are any)
  7. Company securities account statement for full period (if company has one)
  8. If company has subsidiaries with ownership 50% or more then the subsidiary company annual report must be provided.

Online accounting services

As a rule we set up online accounting system for each of our accounting client.

  1. You can start issuing sales invoices to your clients (via our online system) immediately and the accounting system keeps everything in order.
  2. All invoices you issue are available for your accountant and there is no need to send them to your accountant separately.
  3. You can also register all the purchase invoices, take care of payroll of the company, register all payments (cash, card and bank), etc easily.
  4. To keep everything correct, our accountant will help you in most matters.
  5. This online system is easy-to-use and saves your and the accountant’s time.
  6. It is available in English, Russian and Estonian languages.

Proactive advice

from KRM Advisor accountant or tax consultant

In tax and accounting law there is always enough room for creative advise. From time to time it is worth to have a close look to what you are doing and where you feel uncomfortable. Sometimes the solution is very simple and easy to use.