- Customs: new temporary storage rules
New Cabinet Regulation No. 601, which deals with the temporary storage of goods, was passed on 30 September 2014 to replace current rules from 1 April 2015. Read on to find out more.
- Estonian taxation of private cars used for business purposes
The Estonian tax treatment of company cars and private cars registered in Estonia and used for business purposes has changed from this autumn.
- Customs: new transit rules
New Cabinet Regulation No. 603, Application of the “Transit” Customs Procedure, was passed on 30 September 2014 to replace the old rules with effect from 17 October. This article takes a look at the main amendments.
- Labour Code amended
On 23 October 2014 Parliament passed amendments to the Labour Code in their final reading with effect from 1 January 2015.
- Forthcoming changes to Microbusiness Tax Act
The performance of the Microbusiness Tax Act has been evaluated on several occasions and followed by amendments to eliminate a number of shortcomings found during the operation of the Act and to facilitate its application and tax administration.
- Excise security
Amendments to Cabinet Regulation No. 302 of 30 March 2010 relating to excise security are coming into force on 1 November 2014 to enhance the competitiveness of logistics businesses handling both customs and excise.
- Special VAT registration for providers of telecommunications, broadcasting and electronic services
New rules for determining the place of supply for telecommunications, broadcasting and electronically supplied services for VAT purposes are taking effect from 1 January 2015.
- Changes in completing annual income tax return
After the definition of “loans treated as income” was added to the Personal Income Tax Act in November 2013, reporting this type of income on PIT returns has been on the government agenda.
- VAT changes in EU countries
This article explores some of the key changes to VAT rules operating elsewhere in the EU that might affect Latvian taxable persons doing business abroad.
- New clarifications to VAT Act
Cabinet Regulation No. 17, which explains how to apply particular provisions of the VAT Act and certain requirements for paying and administering VAT, has been amended following recent amendments to the VAT Act.
- Register of risky individuals
Recent amendments to the Taxes and Duties Act1 require the State Revenue Service to maintain a register of risky individuals and to exchange information about them with the Enterprise Registry from 1 January 2014.
- Interim dividend disclosure in financial statements
Interim dividend rules have been in force since the beginning of this year (see our Flash News editions of 8 and 15 April).
- Mediation Act for efficient resolution of disputes
Effective from 18 June 2014 the Mediation Act aims to create legal preconditions for promoting the use of mediation as an alternative way of settling disputes and reducing the caseload of the courts.
- Amendments to Immigration Act and temporary residence permit rules
The May amendments to the Immigration Act, which introduced new rules for foreign nationals seeking a temporary residence permit on the basis of their investment in Latvian real estate (RE) or in a credit institution, will come into force on 1 September.
- VAT Act amended
Amendments to the VAT Act we wrote about in March were passed on 12 June with effect from 1 October.
- Revised stamp duty on title and mortgage registration
Paragraph 16.1 of Cabinet Regulation No. 1250 of 27 October 2009 on stamp duty for entering property title and mortgages on the land register, which imposes a higher rate for late registration, came into force on 1 July 2014.
- Free Ports and Enterprise Zones Taxation Act amended
The Taxation of Free Ports and Enterprise Zones Act has been amended again with effect from 11 July. This article explores what we see as key amendments.
- New corporate tax rules for R&D activity
Taxpayers can claim a corporate income tax (CIT) deduction for their research and development (R&D) expenses multiplied by a coefficient of 3. This condition applies to research work with project documentation developed by the trader.
- Registration of electrical and electronic equipment manufacturers
Cabinet Regulation No. 331 of 17 June 2014, which deals with the registration of electrical and electronic equipment (EEE) manufacturers, their authorised representatives and battery manufacturers, and levels of data maintenance fees and terms of payment, applies from 1 July. This article explores the rules and the changes.