Submitting Annual Report is mandatory for all the companies registered in Latvia, even if the company doesn’t have any activities during the financial year. The deadline for Annual Report is usually within four months* from the end of company’s financial year, so if your company’s financial year ends on 31st December, the due date for submitting the report is 30th April.

All the monthly accounting has to be completed before starting to compile the annual report.

Included in the price for annual report:

• Balance sheet
• Income statement
• Cash flow statement
• Changes in equity
• Notes to the financial statements
• Management report
• Submitting the report (It can be delivered as a hard copy to SRS or in electronic form using the SRS Electronic Declaration System (EDS). If you grant iCompany the access, we can do this for you).

If the accounting for the financial year has not been done (or is not done correctly), additional fee based on accountants working hours will be added to the price. The exact content and the form of annual report depends on the size and business of the company.

Process flow:

  • In case your company´s accounting is not done by iCompany, we need you to send us documents (bank statements, purchase- and sales invoices) so we could make the offer
  • We agree on the volume of the work needed and final price
  • As soon as we have all necessary documents we will go over them and compile it to annual report
  • We hand the compiled report over to you so you could submit it to SRS or in case you have granted the access to us, we will submit the report for you.
  • * As an exception some companies have seven months to submit the consolidated Annual Report.

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