As we know, the new corporate income tax law will come into force on 1 January 2018. It foresees different tax calculation procedure and the tax base.
In order to explain the application of the provisions of the new law, the Ministry of Finance has prepared and submitted a project at the meeting of the State Secretaries of the Cabinet of Ministers on 11 October 2017.
The project and it annexes are available in Latvian here.
It includes seven attachments including various examples on:
It is foreseen that the project will come into force on 1 January 2018 following approval by the Cabinet of Ministers. Hopefully, the taxpayers will find answers to all the currently unclear questions regarding application of the new law.
Once per month we will send you an article keeping you up to date with the latest trends and developments in accounting, taxation or legal fields.