June 15, 2021

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…

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June 8, 2020

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…

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May 8, 2020

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…

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December 12, 2019

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…

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September 25, 2019

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…

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June 25, 2019

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…

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