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..

Formalities for extending tax payment deadlines (2/33/14) (0)

13.08.2014

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 takes a look at the information to be filed and the filing deadlines. Read more..

EU strengthens VAT ratio calculation principles (3/33/14) (0)

13.08.2014

Practice

Companies that make taxable as well as exempt supplies calculate a ratio for measuring recoverable input tax. Unlike other EU member states, Latvia has not frequently discussed issues associated with calculating this ratio, and so relevant Latvian legislation is poorly developed. This article explores a recent ruling by the Court of Justice of the European Union (CJEU) on the inclusion of finance lease supplies in the ratio calculation. Read more..

Amendments to Immigration Act and temporary residence permit rules (1/32/14) (0)

06.08.2014

Passed

The May amendments to the Immigration Act, which introduced new rules for foreign nationals seeking a temporary residence permit (TRP) on the basis of their investment in Latvian real estate (RE) or in a credit institution, will come into force on 1 September. In addition to buying RE or signing a subordinate debt agreement with a credit institution, these investors will be required to pay cash to the government. Read more..

Practical tips for applying transfer pricing methods (2/32/14) (0)

06.08.2014

Practice

Latvian transfer pricing (TP) rules have been introduced to ensure that income and expenses arising from a transaction between related parties are computed according to the arm’s length principle. Read more..

 
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