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INNOVATIVE PERSONNEL MOTIVATION INSTRUMENTS
Employers in Latvia have three innovative tools for motivating personnel: employee stocks, employee shares, and employee stock options. Each business can choose the option that…
Employment or Contractor Agreement? Understanding Different Work Arrangements
When entering into work arrangement, it is essential to understand the nature of the work relation. These relations can vary significantly depending on the type…
Is it mandatory to have an accounting policy?
One of the frequently asked questions by businesses is whether it is mandatory to have an accounting policy in place. Before diving into the details,…
7 Common VAT Mistakes in Latvia (and how to Avoid Them)
Value added tax (VAT) is a type of consumption tax used in the European Union (EU). While VAT in Latvia is paid by the final…
PAYMENT & TAXATION OF DIVIDENDS IN LATVIA
THE PROCESS OF DIVIDEND PAYMENT A dividend is an instrument of how the company distributes the profits to its shareholders. For a shareholder (business owner)…
Digitalize Your Business Payrolls With E-invoice In Latvia
Undoubtedly, invoicing is the most important and foremost task for every business when it comes to streamlining everything. It helps the business owners & managers…
Navigating Cross-Border Payroll and Taxation in Latvia
In our modern world, where businesses often cross borders, understanding payroll and taxation in different countries is becoming essential. With businesses frequently operating beyond their…
Explaining Latvia’s Per Diem: Why It Doesn’t Show on Pay Stubs
One of the most frequently asked questions from our clients has been, “Why isn’t per diem reflected on pay stubs?” In this article, we’ll explain…
How to define salary correctly in a contract
An employment contract must be entered into in writing prior to the commencement of work. The amount of remuneration and the time of disbursement must…