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Controlled Transactions Report: What It Is, Who Must Submit It, What the Deadline Is, and What to Pay Attention To
What is the Report on Controlled Transactions? The Report on Controlled Transactions (CTR) is one of the transfer pricing documentation documents. Its essence is simple:…
A Guide to Christmas Bonuses in Latvia for Foreign-owned Businesses
In Latvian business culture, many organisations choose to disburse cash bonuses or non-cash gifts at Christmas. Though Christmas bonuses are not required, they are greatly…
How to Properly Define Remuneration in an Employment Contract?
Remuneration is one of the most essential terms of an employment contract. Although in practice the employer and the employee most often agree on a…
Application of personal income tax to capital gains from securities
The disposal of securities (shares, equity interests, investment fund certificates, debt instruments, etc.) by an individual generates capital gains income subject to Personal Income Tax…
7 Common VAT Mistakes in Latvia (and how to Avoid Them)
Value added tax (VAT) is a type of consumption tax used in the European Union (EU). While VAT in Latvia is paid by the final…
Non-business expenses for Corporate Income Tax (CIT) – what companies need to know
Since 2018, the Latvian corporate income tax (CIT) system has been significantly simplified – tax is payable when profits are distributed or when certain non-business-related…
Employee Benefits: What Can Be Offered to Employees Beyond Salary in 2026
By 2026, a competitive salary alone is no longer sufficient to attract and retain good qualified employees. A well-structured employee benefits system has become an…
Latvian Foreigner’s eID Card: A Complete Guide for International Businesses (2026)
For any foreign national running a business in Latvia, signing documents with Latvian counterparties, or submitting tax returns through the State Revenue Service, accessing Latvia’s…
PAYING OUT THE MONEY TO THE OWNER FROM A SIA
In this article, we will examine a situation where one natural person has established a limited liability company (LLC) to conduct business activities, is the…