News
Baltic tax rates from 1 January 2022
Estonia Latvia Lithuania Corporate income tax (CIT) rate CIT is payable upon profit distributions (the deemed profit distribution). The CIT rate is 20%, calculated…
Amendments to the VAT, PIT and State Social Insurance law as of 2022
Amendments to the VAT Law Reduced VAT rate On 4 December 2021, the President promulgated the amendments to the VAT Law adopted on 15 November…
Case study: A company recovers around EUR 100 000 paid in corporate income tax
INTRODUCTION We are happy to share with you that Leinonen has helped one of our clients recover an incorrectly calculated corporate income tax (CIT). The…
As of 1 July 2021 obligations to pay minimum mandatory State social insurance contributions
As of 1 July 2021, amendments to the Law on State Social Insurance enter into force, and minimum mandatory State social insurance contributions (minimum contributions)…
Tax news for 2021
Amendments to the Value Added Tax Law Amendments to the Value Added Tax Law (Amendments to the VAT Law) were adopted on 24 November 2020…
State aid to business due to covid-19 /03.12.2020./
To restrict the spread of COVID-19 in Latvia, from 9 November 2020 to 11 January 2021, emergency situation has been announced in Latvia and strict…
ECJ judgment – Reduction of VAT Rules for bad debts
On June 11, 2020, the Court of Justice of the European Union (CJEU) adopted a decision in Case C-146/19 (SCT) concerning the right of a…
E-commerce VAT treatment changes postponed until July 2021
As of 1 January 2021, significant changes on imposing VAT to e-commerce transactions had to become effective. The legislator has already drafted amendments to the…
Withholding tax on transactions with non-residents
In transactions with non-resident legal persons it is necessary to ascertain whether the remuneration of the transaction is subject to the withholding of the corporate…