News
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…
News about Law “On Personal Income Tax”
1. Income from credit reduction or repayment Until now, the tax was not imposed on an individual’s income received by reducing or repaying individual’s mortgage…
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…
Loans to individuals – a duty to provide information to the State Revenue Service
Merchants, who issued loans to individuals, including their employees, are obliged to submit information to the State Revenue Service (SRS) by 1 June about loans,…
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”…
Assessment of Counterparty – VAT Risks
Given that value added tax (VAT) provides about half of the total tax revenue of the State budget in Latvia, but at the same time,…
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…
Leasing, credit and the related interest payment report
The draft regulation was developed on the basis of the Law “Amendments to the Law “On Taxes and Fees”” adopted by the Saeima on 17…