Accounting Services for VAT-Registered Companies in Estonia

Every Estonian company having economic activity must provide adequate accounting. Bookkeeping for each company must comply with government-set standards for the results to be comparable and understandable. Therefore, you should familiarise yourself with bookkeeping requirements regulated by the Estonian government.

VAT or value added tax is a broadly based consumption tax that not every company must register. VAT is required when the turnover threshold reaches 40,000 EUR. Therefore, there are two different paths to follow depending on the company’s VAT status.

A company with a VAT registered must submit tax returns every month.

It applies even if no transactions are done.

The cost of service depends on the number of source documents to be processed, the number of employees, and the number of loan and leasing agreements. The complete accounting service is mandatory for VAT-registered companies since they shall submit at least two reports to the Estonian Tax and Customs Board every month.

In order to file returns on time, all documents shall be sent to your accountant as soon as possible, but no later than the 5th day of the next month. Delayed returns will result in penalties charged by the Estonian Tax and Customs Board. Documents that have not been submitted and/or properly formatted will lead to their declaration and an additional tax burden for the company.

Monthly fee for VAT-registered companies:

up to 10 documents per month 150 EUR
11 to 30 documents per month 200 EUR
31 to 70 documents per month 250 EUR
from 71 documents per month on an individual basis