ACCOUNTING SERVICES IN ESTONIA
We offer comprehensive accounting services tailored for modern entrepreneurs. Our accountants ensure the accuracy and compliance of all your company’s financial reports with the latest standards and requirements.
Your Reliable Partner in the World of Accounting!
Our team combines deep knowledge and years of experience, allowing us to provide accounting services at the highest level. We guarantee not only accuracy but also an individual approach to every aspect of your business. Entrust us with your financial accounting, and we assure you everything will be done flawlessly.
Eesti Firma – Your Company’s Finances are in Good Hands!
We employ the most modern accounting IT solutions, ensuring an innovative approach to your accounting needs. Our goal is to optimize and automate processes, making them more efficient and understandable for you. Trust us to keep your financial accounting up-to-date with modern technologies.
We will find effective solutions for the most complex and unusual situations! Send enquiryACCOUNTING FOR ESTONIAN COMPANIES
Professional accountants and reliable bookkeeping in Estonia
According to the current legislation, all registered companies in Estonia are required to maintain accounting records and timely submit standardized reports of their activities. Our team will help you comply with these requirements and ensure impeccable financial documentation.
Our team of accountants and tax consultants has many years of experience and offers clients reliable and professional accounting support. We strive to build trusting relationships with our clients and maintain a reputation as a reliable partner, always putting the client’s interests first.
Eesti Firma – Accuracy and trust in every figure
Need qualified assistance with taxation and accounting in Estonia? Our team of experts is ready to provide individual consultations, help you understand the nuances of accounting and taxes, and develop a personalized proposal for effective support of your business.
ACCOUNTANCY SERVICES IN ESTONIA
What accounting services do we offer to Estonian enterprises?
We will handle all necessary work related to your company’s accounting – from collecting and analyzing primary data to preparing tax and financial reports, as well as communicating with state authorities.
Our range of accounting services includes, among others, the following positions:
- Accounting and Tax Consulting
- Accounting Maintenance
- Preparation of Annual Reports
- Tax Reporting
- Payroll Management
- Restoration of Accounting Records
- Representation in Tax Authorities
The cost of accounting services depends on many factors, including the area of activity and nature of your business, the number of transactions, and other specific circumstances that need to be considered in the work of the accountant.
We always strive to offer the best price and create a customized pricing proposal that considers your business model’s features and specific needs.
OUR PRICING PLANS
Accounting Service Prices in Estonia
Below is a complete list of our services with current prices. We are confident that you will find the optimal offer that meets your needs.
All listed prices exclude VAT and are for illustration purposes only. We will offer each client a personalized pricing proposal considering the company’s area of activity, volume and quality of primary documentation, and other important factors.
WHY CHOOSE US?
Eesti Firma OÜ — convenience, reliability, and innovation in accounting services
We offer quality accounting services for companies in various industries and business sectors. Our services are suitable for innovative enterprises, e-commerce, IT companies, startups, and crypto projects. We provide solutions that help our clients effectively implement their ideas and develop business projects.
- Convenience With Us!
We offer our clients the opportunity to connect and use an online accounting system for free, which allows for quick and convenient invoicing to counterparts and keeping track of the company’s latest financial indicators.
- Reliability With Us!
Our specialists can solve the most varied and complex tasks in the field of accounting. We guarantee maximum promptness, correctness, and accuracy in our work, as well as complete confidentiality in client relationships. Moreover, our employees’ professional liability is insured for up to 50,000 euros.
- Efficiency With Us!
We simplify the accounting process without compromising quality. Our company uses the most modern and advanced accounting programs and technological solutions for automating accounting and data processing.
STARTING ACCOUNTING SERVICES
Organizing and setting up accounting for your enterprise
We offer professional accounting support and legal assistance for business projects at the initial stage of development or seeking to restructure their internal processes.
Accounting — Where to Start?
We will analyze the expected business flows, discuss possible nuances in taxation and accounting, and prepare an effective internal infrastructure so that your company’s market entry meets your expectations.
Tax and Accounting Consulting
The main goal of tax and accounting consulting services is to improve the efficiency of accounting and tax records. Our specialists will help choose the optimal business model and organize internal processes to make your activities clear, transparent, and predictable.
Organizing Accounting Records
Before starting commercial activities, it is essential to discuss all nuances of accounting and agree on actions, including the format and deadlines for submitting documents. The company must develop internal accounting rules, including procedures for maintaining registers, recording transactions, processing and storing documents, accounting for income and expenses, inventorying assets, and preparing reports.
Preparing an Opening Balance Sheet
Before starting commercial activities, enterprises need to prepare an opening balance sheet reflecting the company’s assets, equity, and liabilities. The opening balance sheet serves as the basis for accounting and determining the company’s financial indicators.
Obtaining a VAT Number in Estonia
A VAT number is assigned to an entrepreneur based on an application submitted to the Tax and Customs Board. Registration is mandatory when the taxable VAT (Value Added Tax) turnover exceeds 40,000 euros per year. If the turnover has not yet reached this amount, but the enterprise starts commercial activities and obtaining a VAT number is justified by the business model, the entrepreneur can register voluntarily.
Obtaining an EORI Number
An EORI number (Economic Operators Registration and Identification System) is used to identify entrepreneurs in customs procedures and is mandatory for enterprises engaged in import, export, or transit operations. The issuance of EORI numbers is coordinated by the Tax and Customs Board.
FINANCIAL REPORTING
Preparation and submission of annual reports for Estonian companies
Financial reporting is a systematic and standardized set of data about the financial condition, performance, and changes in the financial position of an enterprise. The goal of financial reporting is to provide the state, business partners, and the general public with objective and reliable information about the company’s financial results.
Accounting Reporting — Annual Reports
Financial reporting must be professionally prepared and comply with the principles of accuracy, consistency, comparability, and objectivity. Our specialists offer a full range of services for maintaining accounting records, preparing annual reports, and other financial reporting, taking into account all the nuances and features of your company’s business processes.
Annual Report
Preparation and submission of the annual report are mandatory for all enterprises registered in Estonia. The annual report is submitted to the Commercial Register within six months after the end of the financial year. The report must comply with established standards and include the balance sheet, activity report, profit statement, and cash flow statement.
Zero Annual Report
The absence of economic activity does not exempt the enterprise from the obligation to submit annual reports. If there is no economic activity during the reporting period, a zero report must be submitted.
Interim Reports
Interim reporting is financial reporting for a period different from the company’s financial year (e.g., monthly or quarterly). Partners and counterparts often require it when concluding significant contracts, obtaining loans, and leases. It is also used in internal business processes to record interim states or determine the company’s seasonal financial indicators.
Statistical Reports
The Statistics Department collects data on enterprises’ activities, conditions, and financial indicators to provide objective information about Estonia’s economic development. Enterprises that participate in the studies provide data that help better understand certain social phenomena. In comprehensive studies, data is collected from all enterprises in the target group. Information is submitted to the Statistics Department through the eSTAT electronic environment.
Checking and Correcting Financial Reporting
Our accountants have the competence and experience to control the financial state of enterprises, find and correct errors, check calculation methodologies and data representation in reports, and reconcile results with previously submitted data to the Commercial Register.
TAX REPORTING
Preparation and submission of tax declarations
Tax reporting and its preparation include a set of measures for submitting standardized declarations to the tax authorities by the due date. These declarations contain information about the enterprise’s financial indicators for a certain period and information about the calculation and payment of state taxes.
Submitting Reports to the Tax and Customs Board
Our team’s priority is to simplify the process of collecting and processing data on the client’s economic activities using modern technologies. We ensure prompt submission of tax reports to the controlling authorities.
Income Tax Declarations (TSD)
Enterprises that pay salaries or other taxable payments to individuals must declare (TSD declaration) and pay income and social tax, make contributions to the unemployment insurance fund, and, if necessary, pension fund contributions.
Turnover Tax Declarations (KMD)
Entrepreneurs registered as turnover tax (VAT) payers are required to provide summary data (KMD declaration) on the company’s turnover and imports, including zero or preferential rate turnover and imports, to the Tax and Customs Board of Estonia. They must also withhold and pay VAT to the state. A VAT report must be submitted even if there is no activity during the reporting period (month).
Intra-Community Turnover Declarations (VD)
If a VAT payer supplied goods or provided services, including triangular deals, to counterparts from other EU countries registered as VAT payers during the reporting period, they must submit a report on the intra-community turnover (VD declaration) to the tax authorities of Estonia in addition to the VAT report.
MOSS, OSS, and IOSS Declarations
The special turnover tax (VAT) regime for electronic services provided to non-taxable persons in other EU countries – MOSS (Mini One Stop Shop) allows the service provider to declare and pay the tax through their country’s tax authorities. This regime applies to other services for non-taxable persons from the EU, remote sales of goods within the EU, and online store sales (OSS – One Stop Shop). A new tax regime – IOSS (Import One Stop Shop) has been introduced for remote sales of imported goods from non-EU countries.
Checking and Correcting Tax Reporting
Our specialists have the qualifications and experience to check tax declarations and identify inaccuracies affecting tax calculations. If errors are found, it is important to correct the reporting, reflect accurate data in the tax declaration, and pay any underpayments and penalties. Prompt corrections will save the enterprise from fines and other problems.
CONTACT US
Get a personalized quote today!
Do you need professional assistance with taxation in Estonia or accounting for Estonian companies? Or are you looking for reliable accounting support for your business? Our team offers personalized accounting services tailored to your unique needs.
Optimize Your Accounting With Our Help!
For accountant consultation and a personalized quote, contact our specialists. You can reach us by phone, email, or through the feedback form on our website.
FAQ | Frequently Asked Questions
We are pleased to offer you professional accounting support to ensure your business complies with all regulations and manages its financial resources effectively.
In our FAQ section, you will find answers to the most frequently asked questions about accounting and tax reporting in Estonia, which will help you better understand the process and make informed decisions for your business.
- Who is required to maintain accounting records in Estonia?
All companies registered in Estonia are required to maintain accounting records and submit standardized reports to state authorities.
- What does accounting support for Estonian companies include?
Accounting support includes recording all financial transactions, preparing and submitting tax and financial reports, payroll calculations, and liaising with tax authorities.
- How often is financial reporting required in Estonia?
Annual financial reports must be submitted within six months after the end of the financial year. Interim reports may also be required upon request.
- What documents are needed for maintaining accounting records?
The main documents are invoices, bank statements, contracts, work completion certificates, and other primary documents confirming business transactions.
- What is a zero annual report and when is it submitted?
A zero annual report is submitted if there was no business activity during the reporting period. It is mandatory for all registered companies.
- When must a company register as a VAT (Value Added Tax) payer?
Registration is mandatory if the company’s taxable VAT turnover exceeds 40,000 euros during one financial year. Voluntary registration is also possible before reaching this threshold.
- How is VAT number registration carried out in Estonia?
To register, an application must be submitted to the Tax and Customs Board, along with documents confirming the company’s activities, and the company must undergo a verification procedure.
- What is an EORI number and who needs it?
An EORI number is required for the identification of entrepreneurs in customs procedures and is mandatory for companies involved in import, export, or transit operations.
- What VAT reports need to be submitted?
Companies must submit a monthly VAT return (KMD declaration) and a VD declaration for transactions with counterparts from other EU countries.
- What are MOSS, OSS, and IOSS declarations?
These are special taxation schemes for companies providing electronic services, selling goods remotely, or importing goods from outside the EU. They allow businesses to declare and pay turnover tax in their home country.
- How is the annual report submitted?
The annual report is submitted to the Commercial Register and must include the balance sheet, activity report, profit and cash flow statements.
- What is interim reporting and when is it needed?
Interim reporting is a report for a period different from the financial year (month or quarter). It is needed for internal company needs or when concluding major deals.
- What is the process for preparing an opening balance sheet?
The opening balance sheet is prepared before the company starts active operations and reflects the assets, liabilities, and equity at the beginning of operations.
- What services does tax and accounting consulting include?
Consulting covers tax obligation optimization, business model selection, internal process organization, and assistance in understanding accounting procedures.
- What is needed to prepare statistical reports?
To submit statistical reports, companies must provide activity data to the Statistics Department using the eSTAT electronic system.
- How can a company’s accounting be restored?
Restoring accounting involves collecting and processing all missing documents and data, preparing and submitting necessary reports, and correcting errors in the records.
- What payroll services do you provide?
We handle payroll calculations, taxes, and social contributions, preparing payment documents, and reports for employees and tax authorities.
- Can we represent the client’s interests before tax authorities?
Representation includes liaising with tax authorities, responding to their queries, resolving tax disputes, and providing tax consultation.
- How is the cost of accounting services determined?
The cost depends on the company’s activity sector, transaction volume, accounting complexity, and specific client needs. We offer individualized pricing proposals.
- What are the advantages of using an online accounting system?
An online accounting system allows for prompt invoicing, financial performance control, and simplifies the accounting process, which is especially convenient for our clients.
- What types of taxes must Estonian companies pay?
The main taxes include corporate income tax, VAT, personal income tax, social tax, and contributions for unemployment insurance and pensions.
- How to choose the optimal business model for taxation?
The optimal model can be chosen based on the analysis of expected income, expenses, types of activities, and company structure. We offer tax consulting services to help with this.
- What tax benefits are available for businesses in Estonia?
Estonia offers various benefits, including tax holidays on profits reinvested in business development and simplified conditions for startups and innovative companies.
- How can a company’s tax obligations be minimized?
We help optimize tax obligations through legal methods such as expense planning, choosing the right taxation system, and using available tax benefits.
- What are the specifics of accounting for international companies in Estonia?
International companies need to consider foreign currency transactions, transfer pricing, and tax obligations in different jurisdictions. We assist with these nuances.
- What accounting software and technologies do you use?
We use modern accounting software such as Merit Aktiva, tailored to Estonian legislation, which allows for efficient automation of accounting and reporting.
- How does the integration of online accounting with your system work?
We offer free connection to the online accounting system, which integrates with our accounting systems, ensuring data synchronization and easier access to financial reports.
- What does the accounting restoration service include?
Restoring accounting includes analyzing and collecting all missing data, checking and correcting errors, and preparing reports for missed periods.
- How is payroll accounting and calculation performed?
We provide a full payroll management cycle, including calculating all taxes and contributions, preparing payment documents and reports, and liaising with tax authorities.
- How to prepare a company for an audit?
We assist in audit preparation, conduct preliminary report checks, prepare necessary documents and data, and support throughout the audit process.
- What services do you provide for crypto projects?
We specialize in accounting and taxation of cryptocurrency transactions, advise on regulatory requirements, and help optimize tax obligations for crypto projects.
- What are the main steps for organizing accounting in a new enterprise?
We assist with company registration, developing internal accounting rules, setting up reporting systems, and training staff on key accounting aspects.
- How do you interact with tax authorities in Estonia?
We represent clients’ interests with tax authorities, help with submitting all necessary reports, respond to queries, and resolve any disputes.
- How do you ensure client data confidentiality and security?
We use modern data protection systems, information encryption, and comply with all legal confidentiality requirements. Our professional liability is insured.
- What are the benefits of partnering with your company?
We offer an individual approach, highly qualified specialists, modern accounting technologies, and a full range of services, making us a reliable partner in accounting and taxation in Estonia.
We hope our FAQ section has helped you understand the main questions related to accounting and tax reporting in Estonia. Our team of experts is always ready to provide you with individual consultation and assist in solving any accounting and taxation issues.
