Flash News is the latest information on proposed and effective changes in tax and business legislation. We aim to save you time by monitoring the latest developments and bringing key points to your attention.
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New requirements for VAT returns (1/5/10)
Passed
02 February 2010
From 1 February 2010 the VAT return and its appendices must be completed and filed in line with Cabinet Regulation No. 1640 of 22 December 2009. This article explores what we perceive as key changes in the way VAT returns are prepared. Read more » -
Excise changes in 2010 (2/5/10)
Passed
02 February 2010
On 1 December 2009 the Latvian parliament amended the Excise Duty Act, making a number of changes. The amendments include fiscal measures, such as the introduction of excise on natural gas and an increase in the duty on cigarettes and wine, which the government believes are necessary for boosting inland revenues, and administrative changes. This article takes a look at the fiscal measures. Read more » -
Staff feelings in the economic downturn (3/5/10)
Issue
02 February 2010
Most human capital managers are likely to be dealing with two issues. One involves cutting or optimising staff costs. The other issue, following a reduction in staff costs, involves setting up strict controls to keep those costs down. Read more » -
VAT adjustments for bad debts (1/4/10)
Passed
26 January 2010
Amended with effect from 1 December 2009, the VAT Act now has an optional provision relating to input tax adjustments for bad debts. Cabinet Regulation No. 933 of 14 November 2006 has been appropriately supplemented with an explanation of when a bad debt is deemed to arise and how to notify the tax authorities. Read more » -
Tax period and VAT reporting deadlines (2/4/10)
Passed
26 January 2010
The Latvian VAT Act has been substantially amended with effect from 1 January 2010. This article explores changes in how the tax period is determined and when VAT returns must be filed. Read more »
