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accounting, reporting, taxes — clearly explained.
written for e-residents and foreign founders running an Estonian OÜ, these guides walk through Estonia's annual reporting rules in plain English — no accountant jargon, no assumed local knowledge. each one covers a concrete step, from what the micro-enterprise format actually requires to how filing works on e-Äriregister.
An annual report is built from a bank statement, where each transaction is categorised as revenue, an expense, an owner payment, or a loan. The categories produce the income statement. The balance sheet then needs accrual entries a bank statement does not show: unpaid invoices, unpaid expenses, and tax payable.
The profit distribution proposal is the board's proposal for how to distribute the year's profit — it is forward-looking, and by default the whole profit is added to retained earnings. It is not the same as dividends paid during the year. The proposal is required by Äriseadustik paragrahv 179.
Estonia offers two income statement formats (RPS paragrahv 18). Scheme 1 groups costs by type (goods, labour, depreciation); scheme 2 groups them by function (cost of sales, distribution, administration). For a one-owner service company, scheme 1 is usually the right choice — simpler and more common.
There are four ways to file your micro-enterprise OÜ annual report, at four price points. An accountant charges roughly €120–430 for a single report, a monthly accounting service €708–3,600 per year, and doing it yourself is free but takes 4–16 hours. nosweat.finance costs €49, one time, with no subscription.
Your first annual report differs from later ones in two ways: the fiscal year can run up to 18 months (RPS paragrahv 13 lg 2), and no prior-year comparative figures are required. Everything else is the same — a balance sheet, an income statement, and at least one note. It is due six months after the end of your first fiscal year.
Every Estonian OÜ must submit an annual report (majandusaasta aruanne) to the Business Register within six months of the fiscal year end — usually by 30 June. Micro-enterprises can file a simplified report consisting of a balance sheet, an income statement, and notes. You need a bank statement in CSV format, prior-year balance sheet data, and EMTA tax data if you had employees. The entire process happens on ettevotjaportaal.rik.ee, which is in Estonian only.