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Rules that help improve cash flows arising from VAT in the COVID-19 emergency

Explore the latest COVID-19 tax, legal and economic response by territory
(134 countries)

New coronavirus law (1/25/20) (0)

18.06.2020

Passed

On 5 June 2020, Parliament adopted the Handling of Covid-19 Consequences Act in its final reading. The new law aims to lay down a legal basis for support measures after the end of the emergency situation caused by the coronavirus pandemic. Read more..

Corporate income tax relief (2/25/20) (0)

18.06.2020

Practice

The CIT Act offers a variety of reliefs that taxpayers may claim if they have a taxable base that qualifies for a particular relief. This article explores some of the available CIT reliefs. Read more..

Filing capital gains tax return for second quarter income (3/25/20) (0)

18.06.2020

Practice

In an earlier article, we wrote that the Electronic Declaration System offers a convenient wizard for calculating capital gains and we explained how it works. As the deadline for filing the capital gains tax return for the second quarter of 2020 is approaching, this is a reminder that individuals whose income from capital gains in the second quarter exceeds EUR 1,000 have to file their tax return by 15 July. Read more..

Court overturns tax authority’s interpretation of tax evasion (1/24/20) (0)

11.06.2020

Practice

In our Flash News of 10 September 2019 “State Revenue Service seeks collection from tax debtor’s business partners” we wrote about how the SRS suspended a trader’s business after he refused to pay taxes owed by its supplier. The SRS has recently lost more cases in which a trader disputed his business suspension enforced by the SRS after he withheld information about one of his suppliers and in which a trader refused to pay a supplier’s tax debt at the SRS’s request. This article explores key aspects of those disputes. Read more..

Sale of foreign property: implications for individuals (2/24/20) (0)

11.06.2020

Practice

In today’s dynamic world, it is not uncommon for a tax resident of one country to sell some real estate (“RE”) they own abroad. In such cases we need to examine the tax laws of both the person’s country of residence and the country of origin of the property or income, as well as international treaties. This article explores an example from our practice involving a Latvian tax resident selling their Russian RE in the light of Latvian tax laws, the Latvia–Russia double tax treaty, and other important aspects. Read more..

 

 
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