If a business can be set up online in ten minutes, it really is the easiest part of entrepreneurship. Depending on the different parameters of the business you are creating, it is useful for a start-up entrepreneur to know the following things:
What, when and to whom do I need to submit?
Submission of reports and declarations
- Kui ettevõte (OÜ, AS, SA, MTÜ) EI OLE KÄIBEMAKSUKOHUSTUSLANE ja tal PUUDUVAD TÖÖTAJAD, kellele arvestatakse töötasusid, siis tuleb esitada MAJANDUSAASTA ARUANNE.
- Kui ettevõte EI OLE KÄIBEMAKSUKOHUSTUSLANE, aga tal ON TÖÖTAJAD, kellele arvestatakse töötasusid, tuleb esitada MAJANDUSAASTA ARUANNE ja TSD-DEKLARATSIOON.
- Kui ettevõte ON KÄIBEMAKSUKOHUSTUSLANE, siis olenemata sellest, kas on või ei ole töötajaid, tuleb esitada MAJANDUSAASTA ARUANNE, TSD-DEKLARATSIOON ja KMD-DEKLARATSIOON.
The MANAGEMENT REPORT (also called simply the Annual Report) is submitted ONCE A YEAR, the first and last report can cover a maximum of 18 months. The deadline for filing the Annual Report is 6 months after the end of the financial year and it is submitted to the Business Register www.rik.ee.
Example: The company was set up in July 2016, with a financial year running from January to December. The first annual report is due on 30 June 2018 and covers the period July 2016 to December 2017. If the company is incorporated in April 2016, the deadline for filing the first annual report is 30 June 2017.
The declaration of income tax, social tax, compulsory funded pension contributions and unemployment insurance contributions, or TSD-DEKLARATSIOON, is submitted monthly or according to the payment of earnings. The deadline for filing the TSD return and paying the taxes is the 10th day of the month following the month in which the remuneration is paid. The declaration is submitted to the Tax and Customs Board. www.emta.ee. The TSD must be submitted by all taxable persons liable to VAT, including those who do not pay any remuneration (in which case a nil return is submitted).
Example: If an employee is paid in October for wages earned in September, a TSD return must be filed and payroll taxes paid by 10 November.
The VAT DECLARATION, or KMD, is submitted monthly. The deadline for submitting the VAT return and paying the VAT is the 20th of the following month. The KMD is submitted to the Tax and Customs Board www.emta.ee.
- Käibemaksukohustuslaseks registreerimise piirmäär on 16 000 eurot/ aastas, see tõuseb ilmselt aastal 40 000 euroni
Companies that are engaged in activities subject to specific requirements must register with the register of economic activities www.mtr.ee. A special activity is an area of economic activity that requires registration in the register of economic activities or an authorisation to carry on an economic activity, the disclosure of which is required in the register of economic activities.
Check the Ministry of Economic Affairs and Communications’ compliance table to see if your company operates in an activity with special requirements.
Sometimes the Statistical Office www.stat.ee also requests information. The Statistical Office usually sends a letter to this effect.
