News
Law on Lotteries of Goods and Services to be amended
Merchants often organize lotteries of goods and services to promote sales and attract new clients. Regulations for the lotteries are laid down in the Law…
Electronic sick- leave documents
According to the amendments to the Cabinet Regulation No. 134 “Regulations on the electronic health information system” the required information on employee’s absence due to…
Filling corporate income tax declaration
Preparations for submission of declaration of corporate income tax (CIT) for the previous tax year are soon approaching. It is worth considering involvement of tax…
New rules for registration of taxpayers and their units
Why should new rules be adopted? The existing rules were adopted in 2001 and have become obsolete, because they do not reflect legislative changes which…
New law on Annual Accounts and Consolidated Annual Accounts
The new law has been drafted according to provisions laid down by the Directive 2013/34/EU passed on 26 June 2013 by the European Parliament. Introducing…
Money laundering and terrorism prevention – who is responsible for what?
Since 13 August 2008 there is in force “Money Laundering and Terrorism Financing Prevention Act” (the Act) whose objective is to prevent financing of terrorism…
Transferpricing and related risks
Application of transferpricing and market price principle Transfer price is a price (value) that is applied in a transaction between related parties, namely, between Latvian…
New exemption from Company Car Tax
Amendments to the Law on Vehicle Operation Tax and Company Car Tax will come into force on 1 January 2016 and includes a number of…
About regulations governing unfair commercial practices
1. Increased fines on unfair commercial practice On 1st July amendments to the Unfair Commercial Practice Prohibition Law will come into force, expanding the rights of…