News
Tax news for 2021
Amendments to the Value Added Tax Law Amendments to the Value Added Tax Law (Amendments to the VAT Law) were adopted on 24 November 2020…
State aid to business due to covid-19 /03.12.2020./
To restrict the spread of COVID-19 in Latvia, from 9 November 2020 to 11 January 2021, emergency situation has been announced in Latvia and strict…
WHAT TO INCLUDE IN THE ARTICLES OF THE ASSOCIATION OF LLC
The Commercial Law of the Republic of Latvia prescribes that the articles of association of a capital company (Limited Liability Company or Joint Stock Company) along…
ECJ judgment – Reduction of VAT Rules for bad debts
On June 11, 2020, the Court of Justice of the European Union (CJEU) adopted a decision in Case C-146/19 (SCT) concerning the right of a…
Why Do Companies Stick with Poor Accounting & Payroll Providers?
For many businesses, outsourcing the accounting and payroll functions helps them simplify company operations whilst being able to take advantage of financial and legal specialists, optimise costs…
E-commerce VAT treatment changes postponed until July 2021
As of 1 January 2021, significant changes on imposing VAT to e-commerce transactions had to become effective. The legislator has already drafted amendments to the…
Hereafter Branches, Representations and Permanent Establishments of Foreign Companies in Latvia will be Obliged to Report Their Ultimate Beneficial Owners
As of 1st of July 2020 the scope of subjects who are obliged to report their ultimate beneficial owners (hereinafter – the UBO) under the Latvian…
Employers can pay 70% of salary during idle time and other changes in application of Labor law norms related to mitigating consequences of Covid-19
On May 7, 2020 Amendments in the Law On Measures for the Prevention and Suppression of Threat to the State and Its Consequences Due to…
Fixed-term changes in the enforcement of civil liabilities due to expansion of the Covid-19
On 12 March 2020, the Cabinet of Ministers of the Republic of Latvia declared emergency situation in the territory of the Republic of Latvia until…