News
Introduction to EURO process in Latvia
This has already happened: Latvia was invited to join the Eurozone by the European Union in the summer of 2013. The exchange rate was confirmed…
New requirements for reports on employees
If an employee’s occupational code has changed, the employer must submit information to the SRS about the new occupational code within the next month. For…
New criteria for the deduction of VAT input tax
If a taxpayer provides both taxable and non-taxable supplies, the new VAT Act primarily provides for the keeping of separate accounting for the purposes of…
New requirements for VAT invoices
Specific due dates for the issue of invoices have been provided for: 1) An invoice in respect of a transaction carried out in Latvia shall…
Advances issued to employees – subject to personal income tax
As of 1 January 2013, a cash or non-cash advance issued to employees, board members, council members, shareholders or members will be treated as employment…