June 25, 2015

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…

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June 16, 2015

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…

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June 2, 2015

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…

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May 27, 2015

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…

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May 20, 2015

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,…

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May 13, 2015

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”…

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May 7, 2015

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,…

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April 29, 2015

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…

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April 22, 2015

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…

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