News
Taxes related to employee share and stock options
On 12 January 2021, amendments to the Latvian Commercial Law (CL) and the law “On Personal Income Tax” (PIT Law) entered into force. The new…
Hereafter Branches, Representations and Permanent Establishments of Foreign Companies in Latvia will be Obliged to Report Their Ultimate Beneficial Owners
As of 1st of July 2020 the scope of subjects who are obliged to report their ultimate beneficial owners (hereinafter – the UBO) under the Latvian…
Employers can pay 70% of salary during idle time and other changes in application of Labor law norms related to mitigating consequences of Covid-19
On May 7, 2020 Amendments in the Law On Measures for the Prevention and Suppression of Threat to the State and Its Consequences Due to…
Termination of Employment Relations if the Employee Lacks Adequate Occupational Competence for Performance of the Contracted Work
It is permitted to terminate employment contract only in the cases and in accordance with the procedure determined in the Labour Law. If the employee…
Termination of Employment Relations in the Event of a Significant Violation Committed by an Employee
Termination of employment relations is permitted only on the grounds and in accordance with the procedure as determined in the Labour Law. One of such…
Significant Changes Regarding Obligation to Disclose Beneficial Owners
The Amendments to the Law on the Prevention of Money Laundering and Terrorism Financing (hereinafter — the Amendments), due to enter into force shortly, will…