The deadline for submitting the annual report for micro-companies and small companies has been extended by one month, the State Revenue Service (SRS) informs.
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The annual report for the year 2022 for these companies must be submitted to the SRS no later than one month after the approval of the annual report and consolidated annual report (if any) and no later than five months (instead of the current four months) after the end of the reporting year – that is, by 31 for May, if the reporting period is a calendar year.
Annual reports must be submitted electronically, in the SRS Electronic Declaration System (EDS).
A micro-company is a small company that meets at least two of the following three characteristics as of the end of the reporting period:
- balance sheet total – 350,000 euros;
- net turnover – 700,000 euros;
- average number of employees in the reporting year — 10.
A small company is a company that meets at least two of the following three characteristics as of the end of the reporting period:
- balance sheet total – 4,000,000 euros;
- net turnover – 8,000,000 euros;
- average number of employees in the reporting year — 50.
Changes to the deadline for submitting the annual report are determined by the law “Amendments to the law “Annual reports and consolidated annual reports”” adopted on March 8, 2023, which entered into force on March 22, 2023 and is applicable starting from the 2022 reporting year.
On the other hand, a medium-sized company, a large company and the parent company of a concern, which prepares a consolidated annual report, must submit the annual report for 2022 in the same way as before – no later than one month after the approval of the annual report and the consolidated annual report (if any) and no later as seven months after the end of the reporting year, ie until July 31, 2023, if the reporting year is a calendar year.
