November 22, 2023

Understanding Financial Reporting for Foreign Branches & Representative Offices in Latvia: Exploring Annual Report Requirements, CIT Compliance, and Submission Procedures

The branches of foreign companies and permanent representative offices of non-residents (foreign merchants) in Latvia fall under the purview of the “Accounting Law.” According to…

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November 2, 2023

My accountant is asking me to fill in a KYC form, why?

In the contemporary business landscape, the role of accounting firms in ensuring financial transparency and compliance has become increasingly critical. In the Baltics, as in…

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October 26, 2023

Board member’s estimated income and taxes

Officials, usually members of the board, are often appointed in their positions in several companies that are a part of the company group, and often…

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October 16, 2023

Tax news, October 1, 2023.

Construction From 1.01.2024, the minimum monthly salary for those employed in construction area will be increased from 780 EUR to 930 EUR during normal working…

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October 9, 2023

Are you certain that your company’s accountant is aware that you are entitled by law to receive Supplementary Leave for a child?

In order to obtain information about the employee’s dependents, the accountant uses information from the SRS system. However, is that enough information to claim that…

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September 29, 2023


According to Section 4 part one of the Law on Legal Force of Documents, for a document to have legal force, the author, date and…

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August 10, 2023


As of July 1, 2023, new Cabinet regulations No 333 “List of low-tax or tax-free countries and territories” are effective. Cabinet regulations have been expanded…

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August 9, 2023

Employee tax and how it’s calculated

The Latvian labour law sets minimum employment requirements including equal pay for work of men and women, amount of minimum salary, entitlement for paid leave…

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June 29, 2023

Foreigner´s eID card – your possibilities in Latvian digital environment

When planning to start a business in Latvia you look for opportunities to do it quickly and digitally. Often foreigners find themselves in a situation…

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