Annual Report is an overview of the financial results of a Commercial Registration. It shows the financial state of the company, it’s profits and losses, amounts of assets, obligations and so forth. It gives accurate information whether the business is going well or if there are problems that need attending.
All legal types can submit an annual report. Starting from 2017, submitting an Annual Report is mandatory to all Commercial Registrations.
Annual Report must be submitted within 6 months from the end of the fiscal year. Starting from 2017, submitting an Annual Report is mandatory.
Starting from 2017, if an Annual Report is not submitted in time, a reminder will be sent to the CR. If the report is not submitted despite the reminder, MOCI can impose different types of penalization on the CR:from fine to compulsory cancellation.
Filling all fields in the Annual Report is not mandatory, however there are some fields that must be filled.These fields are highlighted on the screen. The e-service will calculate other fields based on the entered information. If there are errors in the entered data, the e-service will pinpoint them.
XBRL (Extensible Business Reporting Language) is an international standard for data of accounting. It is a file format with data fields standardized for accounting purposes. It is one of the easiest ways of having Annual Report data prefilled, provided your accountant is using the appropriate accounting software.
Yes, Annual Report data will be available to tax authorities.
No, currently Annual Report data will not be available to the public.
Other government entities will get the Annual Report data from Invest Easy system. They should not be asking you for additional reports.
The submitter of the information is responsible for the validity of the data. If invalid data is discovered, then the repeated report with corrected data must be presented.
Submitting the Annual Report is a free service.
No. If you discover invalid data in already submitted report, you have to submit new repeated report.