SRS Presents a Unique Company Rating Tool in the Baltics

 Publicēts: 17.10.2018. 09.11

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The State Revenue Service (SRS) has created a yet unseen project in the Baltics for measuring the company rating: “Taxpayer Rating”. SRS invites entrepreneurs to try out the new tool at the stage of the pilot project and provide their proposals on improvements by the end of this year.

This is the first and only rating tool of its kind in the Baltic States. It rates a company according to various criteria set by the SRS, providing a single result expressed in percentage terms. The more points there are, the better the company’s rating is. At the same time, an entrepreneurs can view the measurement of individual indicators as well.

“While meeting with entrepreneurs, I have repeatedly heard concerns about the lack of possibility of checking whether a potential partner is honest. By asking him to show his rating system, with a special QR code, access is ensured to more detailed information which allows understanding how reliable this merchant is. We hope that for entrepreneurs themselves this will be not just an informative tool, but also a motivation to improve and aspire for even better results” Dace Pelēkā, Acting SRS Director General, said.

The rating is compiled by the analysis of various data available to the SRS, including, company’s financial indicators, salary, declaration submission discipline, tax debt and registration risks. 

This is the first stage of the Taxpayer Rating Project, and it is planned to expand it next year, taking into account the comments and recommendations provided by entrepreneurs and experts of sectors. In turn, already at the third stage, we are also planning to create a target rating system, wherein entrepreneurs will be able to see the “quality” of their social roles, for example, whether you are a reliable counterparty to VAT transaction, supplier, employer, etc.

Any entrepreneur can view his rating in the SRS Electronic Declaration System, i.e., EDS. If necessary, the rating can be printed out. A unique QR code is automatically added to the print-out. The entrepreneur himself can decide whether he wants to make its rating accessible to his employees only or to share it publicly.

More detailed information on the Taxpayer Rating Project is available on the SRS website, in the section “Companies/Good Practice for Entrepreneurs/Taxpayer Rating System”.