Advance rulings on VAT treatment of cross-border transactions (1/31/15) (0)

29.07.2015

Practice

We have informed MindLink subscribers about the European Commission’s pilot project for issuing advance rulings on the VAT treatment of proposed transactions involving two or more member states in response to a common ruling request (hereinafter the “Project”). This year has seen an article published in the EU about the performance of the Project and future plans, which will be briefly discussed here. Read more..

Excise guarantors (2/31/15) (0)

29.07.2015

Practice

Cabinet Regulation No. 302 of 30 March 2010 relating to excise security has been repeatedly amended in recent years, including the substantial amendments enacted by Cabinet Regulation No. 1244 with effect from 1 January 2014 and applicable also to excise guarantors (see our Flash News edition of 29 October 2013). This article explores an advance ruling the State Revenue Service (SRS) has prepared in partnership with the Ministry of Finance regarding the amendments to Cabinet Regulation No. 302. Read more..

Recovery of input VAT in special cases (3/31/15) (0)

29.07.2015

Practice

This article explores the ruling of 16 July 2015 by the Court of Justice of the European Union (CJEU) on joint cases C-108/14 and C-109/14, which were based on two questions:
• Can a holding company recover input VAT on costs incurred in its capital transactions?
• Can a VAT group be formed by persons that are not legal entities? Read more..

Annual Accounts and Group Accounts Bill (1/30/15) (0)

21.07.2015

Draft

In May the Latvian parliament approved the Annual Accounts and Consolidated Accounts Bill in its first reading. This has been drafted in line with Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC. Read more..

Calculating statutory time limit for tax audit (2/30/15) (0)

21.07.2015

Practice

In June the Supreme Court assessed whether there were any grounds to believe that it was legal to extend the time limit for a tax audit after the Latvian tax authorities had requested further information from foreign authorities, while performing other audit steps in the meantime. This article explores the Supreme Court’s ruling. Read more..

 
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