Businesses often undergo changes during their lifetime as the national economy and legislation also keep evolving. Latvian reorganisation procedures had remained essentially unchanged for quite a while. Effective from 1 June 2023, the Commerce Act has been amended to change the procedures for conducting national and cross-border reorganisations of commercial entities. These amendments are quite extensive, so this article explores just a few aspects of changes to the national reorganisation procedures.
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Ask questionOn 13 July 2023 the Cabinet of Ministers approved and issued Rule No. 407, which governs implementation of the EU Cohesion Policy Programme for 2021–2027 to promote innovative business development in small and medium-sized Latvian enterprises. The approved total financing for an assistance programme to be implemented by the Latvian Investment and Development Agency (LIAA) is EUR 73.38 million.
This summer has brought many changes to the Commerce Act. Some of the amendments came into force on 1 June and others on 1 July. All these changes to a greater or lesser extent affect particular persons that are subject to the Commerce Act, and in this article we explore some of the effective amendments.
In Latvia the rights and obligations of taxpayers and tax authorities, including the SRS, are prescribed by the Taxes and Duties Act and the State Revenue Service Act. Under this legislation, the primary onus is on the taxpayer to compute and pay their taxes to the government.
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