Latvia’s VAT gap shrinks (1/45/18)

09.11.2018
Open article
The European Commission (EC) has issued a report on the VAT gap (i.e. the difference between the forecast VAT revenue and the amount actually collected) in 2016. According to this study, the VAT gap shrank in most member states (including Latvia). Read more..
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VAT Act on independent group of persons to be amended (2/45/18) (0)

09.11.2018

Draft

After joining the EU, Latvia became bound by EU law, which comprises not only pieces of legislation but also case law included in rulings passed by the Court of Justice of the European Union (CJEU). The CJEU’s rulings set out the general principles of law and the content of relevant provisions of law. A particular provision of EU law and its CJEU interpretation form a coherent whole, and provisions of Latvian law must not be contrary to the CJEU’s case law. The CJEU’s rulings bind the judiciary, the executive and the legislative branch, but they neither void nor cancel national provisions. If a provision has been passed into national law incorrectly, then appropriate amendments must be made. This article explores some expected changes to the VAT treatment of independent groups of persons in the light of CJEU rulings. Read more..

Exempt limits of business trip compensations paid by foreign company: tax authority’s ruling (3/45/18) (0)

09.11.2018

Practice

The State Revenue Service (SRS) has published a ruling on the personal income tax (PIT) treatment of expenses a foreign company pays to its employees going on short business trips to Latvia. This ruling answers questions frequently asked by employers about business trip expense limits that are exempt from Latvian PIT. This article explores the main findings of the tax ruling and ways to apply the relevant provisions of the PIT Act. Read more..

Applying General Data Protection Regulation (1/44/18) (0)

05.11.2018

Practice

Since the General Data Protection Regulation (GDPR) came into force on 25 May 2018, data processors have seen its restrictions becoming tighter. What is the difference between protecting personal data and monitoring individuals? And how can the Anti-Money Laundering Directive (AMLD) coexist peacefully with the GDPR? Read more..

CJEU on deducting input VAT in share purchase (2/44/18) (0)

05.11.2018

Practice

On 17 October 2018 the Court of Justice of the European Union (CJEU) ruled on a taxable person’s right to deduct input tax on consulting services for a share purchase that was not completed because of circumstances beyond the taxable person’s control. This article explores the CJEU’s findings and their practical implications. Read more..

Estonian tax news (3/44/18) (0)

05.11.2018

Passed

This article provides an update on changes to Estonian tax laws. Read more..

 

 
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