News
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…
Simplified procedure for applying CIT relief on payments to non-residents
Amendments to the Cabinet Regulation No. 178 “Procedures for Application of Tax Relief Determined in International Agreements for Prevention of Double Taxation and Tax Evasion”…
Amendments to the Law On the Vehicle Operation Tax and Company Car Tax
The amendments to the Law On the Vehicle Operation Tax and Company Car Tax are being prepared for the third Parliamentary reading. They include a…