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Whistleblowing in Latvia: What Are the Obligations for Companies?
The whistleblowing framework was introduced in Latvia in 2019 when the first Whistleblowing Law came into effect. The Whistleblowing Law establishes specific obligations for companies…
INNOVATIVE PERSONNEL MOTIVATION INSTRUMENTS
Employers in Latvia have three innovative tools for motivating personnel: employee stocks, employee shares, and employee stock options. Each business can choose the option that…
Employment or Contractor Agreement? Understanding Different Work Arrangements
When entering into work arrangement, it is essential to understand the nature of the work relation. These relations can vary significantly depending on the type…
BUSINESS IN LATVIA
Latvia has a rather small population of 2 million, which is mostly situated in the capital Riga. One of the key advantages of Latvia lies…
Is it mandatory to have an accounting policy?
One of the frequently asked questions by businesses is whether it is mandatory to have an accounting policy in place. Before diving into the details,…
Navigating Leadership in the Baltics: Povilas Sadaunykas’ Journey
Povilas Sadaunykas has been at Leinonen for a little over a year but has already made his mark. In this interview, we discussed his dynamic…
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…
What do you Need to Know About Public Holidays in Latvia as a Foreign-Owned Business?
Boasting reduced corporate tax rates, outstanding trading infrastructure and three special economic zones supporting corporate growth, Latvia is a popular EU base for foreign-owned businesses.…
PAYMENT OF DIVIDENDS AND THEIR TAXATION
THE PROCESS A dividend is an instrument of how the company distributes the profits to its shareholders. For a shareholder (business owner) the dividends are…