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.

New service: business income account (2/42/19) (0)

18.10.2019

Draft

The Ministry of Finance, the State Revenue Service (SRS) and commercial banks are planning to launch a business income account (BIA) as a new service for taxpayers, according to a report posted on the SRS website. Read more..

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Employer’s disclosure of contributions to private pension funds: tax ruling (3/42/19) (0)

18.10.2019

Practice

In July 2019, the State Revenue Service (SRS) published a binding ruling that explains how to correctly disclose information in employer statements where an employer’s contributions to private pension funds for a worker come from the employer’s money and where they come from the worker’s money through the employer. Read more..

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Changing over to paperless accounting (2/41/19) (0)

11.10.2019

Practice

In the age of digital economy, the business community needs to keep abreast of industry trends. In accounting, the trend is towards a paperless future, but this raises some questions. How do we go about this? What tools do we need? What legislation must we comply with? Read more..

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Bullying in workplace: statute and case law (3/41/19) (0)

11.10.2019

Practice

Last week we wrote about emotional or psychological bullying against a worker. This article explores the legislation and recent case law dealing with emotional bullying. Read more..

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Intragroup loan: tax authority’s ruling confirms cases where retained earnings do not need reducing (2/40/19) (0)

04.10.2019

Practice

After the corporate income tax (CIT) reform, loans to related parties may be taxable, raising the question of whether a loan can be made with no CIT implications. This article looks at a new ruling published by the State Revenue Service (SRS) explaining how to apply statutory exclusions. Read more..

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