Flash News Archive

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 further »

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 further »

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 further »

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 further »

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 further »

Until recently, gifts from individuals enjoyed a generous tax treatment, as personal income tax was only payable on gifts received from legal entities and other organisations. New conditions apply from 1 January 2010. Read further »

In late 2009 the Latvian Cabinet of Ministers amended the VAT rules with effect from 1 January 2010. Read further »

This article explores the European Court of Justice’s ruling of 6 October 2009 in the dispute between the Commission and Spain concerning differential tax treatment of income from capital for residents and non-residents. Latvian residents and non-residents are also taxed differently on income from the sale of real estate in Latvia. Read further »

Not many companies can afford to employ a personnel specialist; some even do not see the need. Yet in an economic downturn a personnel specialist may be useful for management and staff alike. This article takes a look at the goals and meaning of staff motivation in the present economic circumstances. Read further »

We have advised our subscribers that the VAT Act has been substantially changed from 1 January 2010 in line with VAT Directive 2006/112/EC. The amendments basically affect Latvian traders supplying services to or acquiring services from foreign persons. Companies not registered for Latvian VAT can no longer supply certain services to or acquire certain services from EU persons without first obtaining a VAT registration number. Read further »