Flash News Archive

We have informed our subscribers (Flash News editions dated 21 April 2009 and 10 November 2009) of the latest amendments to the Commercial Code which came into force on 1 January 2010. On 14 January the Latvian parliament passed new amendments in their first reading, expected to come into force on 1 May 2010. This article takes a look at what we perceive as key changes. Read further »

At a meeting held on 16 February the Cabinet of Ministers amended Regulation No. 1640 of 22 December 2009 relating to VAT returns. Such early amendments were triggered by the stream of questions taxpayers had asked about completing returns with respect to transactions within and outside the EU. The regulation comes into force on 1 March, so the amendments must be followed when completing the return for February and for the first quarter. Read further »

This article takes a look a the economic indicators that are used for assessing a company’s corporate income tax liability if its financial year ends on 31 December. Read further »

We have noticed that the dates given in laws and regulations tend to raise doubts in people. This article takes a look at what those dates really mean and which is the date a particular law or regulation comes into force. Read further »

Amendments to two Cabinet Regulations came into force on 13 February 2010 aimed at improving taxpayers’ understanding of how to record and tax personal benefits arising from the use of company cars. Read further »

Quite a few companies have faced a situation in which the State Revenue Service (SRS) refused a refund of overpaid taxes, because of minor arrears. Such refusal is usually based on criminal charges being brought against a company, its officers or business partners. Concern has been voiced in the mass media about the negative economic effects of the SRS taking such steps against the backdrop of the general economic downturn. This article takes a look at some of the legal arguments that make such steps taken by the authorities very questionable. Read further »

Amendments to the Public Benefit Organisations Act effective from 1 January 2010 set up a new procedure for granting public benefit organisation (PBO) status. Read further »

This article explores key changes in how VAT statements (appendices to the VAT return) should be prepared. Read further »

Cabinet Regulation No. 942 of 20 November 2008, which determines the registration of national social insurance contributors and explains how to report these contributions and personal income tax, has been amended with effect from 6 February 2010. This article takes a look at key changes affecting the report ‘Staff Details’. Read further »

We are picking up where we left off in our Flash News edition of 2 February 2010 about the latest changes in excise duty. This article explores relevant stocktaking principles. Read further »