Accounting and tax compliance services in Estonia

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All Estonian companies have the obligation by law to keep records of all their business transactions and make reports which will then be presented to the local authorities. To do this correctly, sound knowledge of accounting, reporting and local laws are needed, which can make it all a bit complicated. Since most communications with the local authorities are in Estonian, many businesses we work with use our accounting and tax compliance services to have their companies working smoothly and within the legal framework in a variety of industries.

Full suite of business services for Estonian companies

Besides offering accounting services, Incorporate is also a licenced trust and company service provider, who is authorised by the Estonian Police and Boarder Guard Board to offer corporate services in the Estonian market. Having been operating for over 10 years now, has provided us with extensive knowledge and first-hand experience in both national and on an international level.

As a seasoned corporate services provider, we have numerous accounting and tax compliance services in our portfolio that ensure even the most demanding entrepreneur can get all their services from one place. Our accounting services are tailored towards the needs of small and medium businesses which handle constant international transactions and can be used by companies in every industry.

Accounting and tax compliance services available at Incorporate

  • Preparation of accounting regulations

According to the type and size of your business, your company must keep all accounting related documents, data, and statements in a correct manner, which is determined by the Estonian law. Here, we will help you develop your company’s accounting policies which are aligned with your business and the national regulations which are set out to be followed.

  • Control and processing of accounting documents

All invoices, receipts, and contracts will be taken care of and processed to be used in preparation of your company’s statements, payroll, and taxes. We will make all the necessary accounting entries based on the information you provide. Furthermore, we will store your documents according to the law for the required period.

  • Compilation of sale invoices and payments audit

We will make sure that all the numbers from your sales, payments made and received add up to the right amount and are entered in the software correctly.

  • Calculation and declaration of taxes to the authorities

Companies which are incorporated in Estonia are required by law to calculate and declare their taxes to the Estonian authorities on a steady basis. Here, some variables also play a big role – if your company has local employees and if it is VAT registered means you most certainly must do monthly reporting. Incorporate’s accounting and tax compliance services can help your company to meet Estonian tax compliance obligations.

  • Preparation of your business’ income statement and balance sheet

The income statement and balance sheet are one of the most vital reports that a business owner can have regarding the financial stability and future outlook of the company. Knowing exactly what the income is, what are the expenses, and what the balance sheet looks like helps any experienced entrepreneur make the best strategic decisions.

  • Preparation of cash flow statements

Businesses that are just starting out need to keep a constant eye on the status of their liquidity. Meaning, doing such forecasts and compiling previous data helps new business owners manage their incomes and expenses, and plan better for the future.

  • Calculation of payroll

Doing payroll and distributing has and still is a very time-consuming and tedious activity which can put your business at tax risk when done wrong. Outsourcing this activity to a professional accounting provider in Estonia can help you enjoy a very efficient payroll management process by having others take care of the social tax and income tax calculations.

  • Tracking or control of accounts receivable and accounts payable, calculation of fixed assets

Managing your company’s assets, credits given, and loans taken wisely is another essential part of having long-term financial sustainability. Putting all these numbers together will help you keep a good balance between your assets and liabilities which give indications if your company has taken or given out too many loans. It also indicates if your company has unused assets and if should take loans to become more profitable in the future.

  • Preparation of the annual report

By law, every Estonian company has the obligation to file their Annual Report no later than 6 months after the end of the fiscal year. This also goes for business which have no economic activities and are inactive. Therefore, we help our accounting clients to submit their annual reports in time and per the requirements. Doing so helps to avoid fines any warnings which the Estonian authorities issue for failures to submit your annual reports.

This list of service is not limited to the ones mentioned here. Please feel free to ask us if we haven’t listed the one you are looking for!

Benefits of using Incorporate’s accounting and tax compliance services

Everything is done digitally

As doing everything over the internet is already the standard in Estonia, we make sure you are taking the maximum benefit of running an Estonian company. You will have the ability to send invoices online and from any device. Keep an eye on your business’ income in real-time by accessing an online accounting software.

You can send your invoices, receipts, and bank statements in almost any format – you can upload snapshots, send documents by email, or even upload them from your computer. We will sort all the information and the extracted data is sent directly to the accounting platform.

Get expert help and support

Our chartered accountants will help with your bookkeeping, reports, tax returns and provide you with professional advice. If needed, your company can also have a personal accountant who will get to know your business in-depth and help with managing its records on a daily basis.

Our experts will make sure everything is done on time and correctly, while you manage your company completely online and remotely.

We provide services to all types of companies

Unlike some service providers on the market, our services are suitable for every industry in the Estonian market, even for crypto businesses!

Whether you are just launching your freelance business, or already running a fully operational and profitable company – we can take care of it. Furthermore, we are specialised in providing our services to both resident and non-resident Estonian companies who are constantly making cross-border transactions and where legal compliance is of utmost importance.

Our team of professionals can help you out!

As with any business, it is important to lower risks which can disrupt your company’s daily operations and take away time which you could spend on taking your business to the next level. Our accounting and tax compliance services enable you to focus on earning money and growing your company without setbacks.

Please feel free to reach out to us if you would like us to help with your Estonian business’ accounting and rex compliance. Whether you deal with ecommerce, freelancing or virtual currencies, you can rely on our expertise!

Previously, we have also written about taxes and accounting for Estonian companies.

About the author

Incorporate Team