Latvian tax amendments to go into force in 2017 Dec 07

Latvia has reviewed and made amendments to several tax related areas, such as Personal Income Tax Law, tax exemptions, allowances and minimum wage. The changes are due to take effect on 1 January 2017.

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Lithuania changes the law regulating business trips of employees Nov 30

The Law on Guarantees for Posted Workers has been reviewed and new provisions will take effect in 1 January 2017. Based on the updated law, the Lithuanian companies posting their employees to business trips lasting longer than 30 days or for construction works in the European Union (EU) or the European Economic Area (EEA), have to inform the relevant territorial authorities of the country where the worker is posted. The Lithuanian Labour Exchange (LLE) that formerly had to be informed about all business trips, will now be informed only about the employees posted to Lithuania.

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Polish economy slowed down in the third quarter of 2016 Nov 23

According to the Central Statistical Office of Poland, the country’s growth dropped to the lowest level since 2013.
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Moody’s Investors Service upgraded Hungary’s bond ratings Nov 16

On 4th November, Moody’s Investors Service joined the other leading agencies and reviewed Hungary’s government bond ratings, deciding to upgrade it from Ba1 to Baa3. This means that after 5 years of „junk bonds“ period, Hungary is now recommended for investment with stable outlook by all major rating agencies.

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Summary of important tax amendments in Estonia in 2016 Nov 09

There are a range of important tax changes already in effect this year or to take effect by the beginning of 2017 in Estonia. We have listed the main changes below.
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A new book on the preparation of accounting organization documents in Latvia Nov 02

Leinonen's certified auditor Ilga Matule has written a book "Accounting Organization Documents - Development Guide".

The book can be used as a guideline to facilitate development of accounting organization documents. It includes examples and templates of all the mandatory components of the organization's accounting documents, which can be further adapted to specific business needs. In order to provide wider insight, each template is developed for different industries and structure of a hypothetical company.
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New Labour Code of Lithuania comes into force on 1 January 2017 Oct 26

We would like to inform you that Lithuanian Parliament adopted a new Labour Code of the Republic of Lithuania on 14 September 2016. The Labour Code will enter into force from 1 January 2017. The main aim of the new legislation is to liberalise work regulation and pursue more flexible relations between the employers and employees.

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New VAT legislation affecting all companies in Poland Oct 19

The new legislation obligates the VAT-registered taxpayers (except those exempt from VAT) to keep computerised records of all data required to fill out tax returns and recapitulative statements.

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