News
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…
Hoping for the best, preparing for the worst – a business guide to surviving the corona pandemic
A healthy economy is the lifeblood of a nation, but in a situation where borders are closed, events cancelled and socialising heavily curbed, many industries…
Reduction of number of employees and collective redundancy
In regard to the spread of Covid-19, on 13 March 2020, an emergency situation was announced in the Republic of Latvia effective until 14 April…