Flash News

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Flash News is the latest information on proposed and effective changes in tax and business legislation. We aim to save you time by monitoring the latest developments and bringing key points to your attention. If you wish to receive our free weekly Flash News summarising the latest Latvian tax and business developments by e-mail, please register at mindlink@lv.pwc.com.

Does lending to subsidiary automatically make company subject to AML law? (2/4/20) (0)

24.01.2020

Practice

We have lately heard that it is advisable to register your company as a person subject to the Anti Money Laundering and Counter Terrorist and Proliferation Financing (AML/CTPF) Act rather than receiving a letter from the State Revenue Service (SRS) warning that they are about to examine your system of internal controls, which does not exist. This article explores how much of this talk is true. Read more..

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Communication with tax authority only electronically as from 2021 (3/4/20) (0)

24.01.2020

Draft

On 9 January 2020, Parliament debated proposals for amending the Taxes and Duties Act in their first reading. The proposals include important changes relating to how applications and tax returns should be filed with the State Revenue Service (SRS). Read more..

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Income tax return form and completion procedures to be amended (1/3/20) (0)

17.01.2020

Draft

Proposals for amending the Cabinet of Ministers’ Rule No. 662 on personal income tax (PIT) returns and completion procedures were announced at the meeting of state secretaries on 5 December 2019. The proposals have been put together to align the income tax return form with recent amendments to the PIT Act and to make it easier to complete for traders. Read more..

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Dividends: income tax treatment and reporting (2/3/20) (0)

17.01.2020

Practice

We have informed our MindLink.lv subscribers that the period of transition prescribed by paragraph 130 of the transitional provisions of the Personal Income Tax (PIT) Act for charging a 10% PIT on dividends received in 2018 and 2019 out of profits made before 2018 expired on 1 January 2020. This article explores the PIT treatment and reporting of dividends after 2019. Read more..

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Monitoring use of email and Internet and recording conversations (3/3/20) (0)

17.01.2020

Practice

The use of information technology at work is becoming increasingly common. For example, there are profilers that, for the purpose of setting the amount of a performance bonus, monitor how much time staff spend on the computer and particular applications, or assess Internet addresses they visit during working hours. Likewise, employers often monitor the use of email and the Internet or record staff conversations to monitor their daily routine and productivity. This article explores cases where this is permitted and where such monitoring or its extent infringes on staff privacy. Read more..

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