Place of supply for electronically supplied services from 2015 (3/35/14) (0)

27.08.2014

Practice

We have informed MindLink subscribers about proposed changes to the VAT treatment of electronically supplied services regarding the place of supply. This article offers practical guidance on how to determine the place of taxation from 1 January 2015. Read more..

Interim dividend disclosure in financial statements (1/34/14) (0)

20.08.2014

Passed

Interim dividend rules have been in force since the beginning of this year (see our Flash News editions of 8 and 15 April). Cabinet Regulation No. 389 of 15 July 2014, effective from the following day, has inserted into Cabinet Regulation No. 488 of 21 June 2011, Application of the Annual Reports Act, new procedures for recording interim dividends (ID) in the taxpayer’s books and reporting them in financial statements. This article takes a look at these arrangements. Read more..

Latvia to sign tax treaty with Hong Kong (2/34/14) (0)

20.08.2014

Draft

A bill proposing Latvia’s double tax treaty with the Hong Kong administrative region of the People’s Republic of China was presented to the meeting of Latvian state secretaries on 7 August. The treaty aims to promote the exchange of information between the tax authorities of the two territories and to provide Latvian and Hong Kong investors with a stable taxation regime unaffected by any amendments to their national legislation. This treaty is based the OECD Model Tax Convention, and so the OECD commentaries can be used in interpreting the treaty rules. This article explores the relief that will be available after the treaty comes into force. Read more..

Formalities for extending tax payment deadlines (conclusion) (3/34/14) (0)

20.08.2014

Practice

Based on a taxpayer’s application the State Revenue Service (SRS) has the power to extend the deadline for paying a particular tax. This article explores criteria they will assess when deciding to extend a tax deadline and outlines cases in which they will refuse an extension. Read more..

Mediation Act for efficient resolution of disputes (1/33/14) (0)

13.08.2014

Passed

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. The law applies to civil as well as commercial disputes that can be resolved through mediation. Read more..

 
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