Author: DMITRI SCHMIDT

Running a business in Estonia comes with certain obligations, and one of the main ones is submitting an annual report every year. Even if your company is small, this procedure is mandatory for everyone registered in the Commercial Register. Here’s why it’s necessary and how it works in practice.

When is the deadline for filing the annual report for 2024 if the business year is a calendar year? In general, the deadline for filing the annual report is 6 months from the end of the business year. The company's business year is specified in the company's articles of association. Example The company's business year, according to the articles of association, begins on 01.01 and ends on 31.12. This means that the end of the business year will be 31.12.2024 and you [...].

Accounting and taxation aren’t just back-office formalities — they’re essential tools for strategic business management. And when a country’s tax policy shifts, entrepreneurs need to adapt quickly and smartly. One of the most significant upcoming changes in Estonia is the VAT rate increase and the cancellation of a proposed “defense tax.” Here’s what’s changing, what’s not, and how to prepare.

Many entrepreneurs, particularly owners of small businesses, have questions about the reverse charge mechanism for services. This occurs when the obligation to calculate and pay VAT shifts from the seller to the buyer of the service. This article clearly explains how reverse charge for services works in Estonia and how to correctly report it in the KMD declaration.

After registering an employee in Nola Accounting and either you or our accountant have entered this information into the Estonian Employment Register, it is important to properly organize the salary payment and tax process to avoid errors and penalties. Let’s go through the steps to do it correctly.