VAT Act to be amended (1/21/16) (0)

26.05.2016

Draft

Proposals for amending the VAT Act that were announced at a meeting of state secretaries on 19 May 2016 are now under debate. This article explores what we see as key points. Read more..

Latvia signs tax treaty with Hong Kong (2/21/16) (0)

26.05.2016

Draft

A comprehensive double taxation agreement (CDTA) between Latvia and Hong Kong was signed by K.C. Chan, Hong Kong’s Secretary for Financial Services and the Treasury, in Riga on 13 April 2016. Read more..

E-commerce and its regulation (2) (3/21/16) (0)

26.05.2016

Practice

This article completes what we wrote on this subject last week. Read more..

Transfer pricing documentation needs revision and update (1/20/16) (0)

19.05.2016

Practice

This article explores the statutory requirements for revising and updating a company’s transfer pricing (TP) documentation and looks at the risks that might arise should the State Revenue Service (SRS) claim that the comparables used in the TP documentation are not consistent with the market conditions. Read more..

Costs of granting stock options: Are these business expenses? (2/20/16) (0)

19.05.2016

Practice

Many Latvian companies have implemented a stock option plan for particular employees that gives them the right to buy stock of the parent company for the price set in a stock option agreement. Subject to meeting certain conditions, such employee income is exempt from payroll taxes. This article explores whether such costs can be treated as the company’s business expenses deductible for corporate income tax (CIT) purposes. Read more..

 
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