Changes in completing annual income tax return (1/40/14) (0)

01.10.2014

Passed

After the definition of “loans treated as income” was added to the Personal Income Tax (PIT) Act in November 2013, reporting this type of income on PIT returns has been on the government agenda. This article explores recently amended rules prescribing how loans treated as income should be reported on the annual income tax return and making other changes to arrangements for completing it. Read more..

Donations (2/40/14) (0)

01.10.2014

Practice

Last year the Latvian State Revenue Service (SRS) provided a certain taxpayer with an advance ruling on how donations made to public benefit organisations should be reported on the corporate income tax (CIT) return. This article explores some of the comments the SRS made in that ruling and PwC’s opinion on those comments. Read more..

Employing foreign nationals in Latvia (2) (3/40/14) (0)

01.10.2014

Practice

To pick up where we left off in our Flash News edition of 3 September about the rules for employing nationals of third countries in Latvia, this article takes a look at foreign nationals allowed to do work in Latvia without obtaining the right of employment and foreign nationals who can obtain the right of employment without restriction (i.e. to work for any employer in any job). Read more..

VAT changes in EU countries (1/39/14) (0)

23.09.2014

Passed

This article explores some of the key changes to VAT rules operating elsewhere in the EU that might affect Latvian taxable persons doing business abroad. Read more..

Changes to social insurance reporting by insolvent companies (2/39/14) (0)

23.09.2014

Draft

The Ministry of Welfare has drafted proposals for amending Cabinet Regulation No. 827, which relates to the registration of national social insurance (NSI) contributors and statements of NSI contributions and personal income tax, to ensure that NSI contributions are properly allocated during a company’s insolvency proceedings. This article explores the proposed amendments. Read more..

 
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