New clarifications to VAT Act (1/38/14) (0)

17.09.2014

Passed

Cabinet Regulation No. 17, which explains how to apply particular provisions of the VAT Act and certain requirements for paying and administering VAT, has been amended following recent amendments to the VAT Act. This article explores some of the new arrangements. Read more..

Collecting personal income tax (2/38/14) (0)

17.09.2014

Practice

The Cabinet of Ministers has instructed the Minister of Finance to terminate by 29 September 2014 the agreements with Riga Council and Ventspils Council for the special collection of personal income tax (PIT) on the grounds that paying PIT into multiple accounts – Riga Council, Ventspils Town Council, and the Treasury – puts an administrative burden on the business community. Read more..

Representation expenses and donations (3/38/14) (0)

17.09.2014

Practice

On 16 May 2014 the Supreme Court made a very interesting ruling on case SKA 58/2014 regarding so-called representation expenses and the treatment of donated funds as donations. This article explores some of the issues the court examined in this case as well as some of the findings that might be relevant to other taxpayers. Read more..

Government to help distressed companies (1/37/14) (0)

09.09.2014

Draft

The Taxes and Duties Act is to be amended to encourage voluntary payment of taxes and help financially distressed companies stabilise their solvency. Read more..

Financing transactions: a transfer pricing perspective (2) (2/37/14) (0)

09.09.2014

Practice

As part of our discussion about transfer pricing (TP) issues in borrowing and lending between related parties, last week we suggested the best approach to documenting functions and risks associated with such financing transactions. In this second part we will explore recent trends in tax investigations and share our thoughts on how taxpayers should proceed in analysing their financing transactions. Read more..

 
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