Amendments to section 9 of the Corporate Income Tax Act came into force on 21 April 2022. The Act’s transition rules now have paragraphs 47 and 48, and there is a different CIT treatment of debts appearing on the balance sheet at 31 December 2017 and ones incurred after this date for which provisions were made before 2022 and later. This article offers an updated summary of the CIT treatment of bad debts in different situations.

This article explores recent amendments to the Taxes and Duties Act that allow qualifying taxpayers to extend the time limit for paying an overdue tax liability for a total of five years.

With employee stock options becoming increasingly popular, Latvian companies too are offering this incentive not only to their own employees but to those of their subsidiaries. This article explores the corporate income tax (CIT), personal income tax (PIT) and national social insurance (NSI) implications of a Latvian company awarding stock options to its own and subsidiary employees.