Worldwide Tax Summaries: Corporate Taxes 2014/2015 -
about the corporate tax systems in over 150 countries worldwide.

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Excise security (1/42/14) (0)

14.10.2014

Passed

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. Read more..

Donations and taxes (2/42/14) (0)

14.10.2014

Practice

To pick up where we left off on the subject of reporting donations on tax returns, this article offers practical examples of how to report a donation on the VAT return when goods are donated instead of money. Read more..

Stock option income (3/42/14) (0)

14.10.2014

Practice

From 1 January 2013 the Personal Income Tax (PIT) Act contains rules for stock options (future purchase rights). We have faced strict application of these rules by the Latvian authorities. This article explores the tax implications where a company fails to notify the authorities of its stock option plan but does meet the other statutory conditions. Read more..

Special VAT registration for providers of telecommunications, broadcasting and electronic services (1/41/14) (0)

07.10.2014

Passed

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. If any of these services are supplied to a non-taxable person of another EU member state, then VAT will be payable in the customer’s home country. To facilitate reporting and paying VAT in other member states and avoid having to register in each member state, a special VAT scheme and registration procedures will be introduced. Latvian companies will find it easier to register for this special scheme in Latvia. Read more..

Tax changes to become more predictable (2/41/14) (0)

07.10.2014

Draft

To assure taxpayers that the tax system is stable, simple, transparent and suitable for the economic situation in the country, proposals for amending the Taxes and Duties Act have been drafted to establish certain principles for imposing taxes and setting rates. This article explores some of the proposed changes. Read more..

 
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