CIT on gifts and donations to mitigate Covid-19 consequences (2/48/20) (0)

26.11.2020

Passed

Although Latvia has again announced a Covid-19 emergency situation from 9 November, aid measures are available under the Covid-19 Act effective from 10 June. This article explores how the Act governs the corporate income tax treatment of gifts and donations in 2020. Read more..

Is rent for forced lease of land subject to VAT? (3/48/20) (0)

26.11.2020

Practice

Does the land owner – a taxable person registered for Latvian VAT – have a right to demand payment of VAT in a forced lease of land? And should the amount of VAT be included in or paid on top of the rent? In this article we look for answers. Read more..

Liability for transfer pricing breaches (3/47/20) (0)

20.11.2020

Practice

The amended transfer pricing (“TP”) rules effective from 2018 authorise the State Revenue Service (“SRS”) to penalise taxpayers for TP breaches. This article explores when the SRS can impose a penalty and what procedures are in place to keep it in proportion. Read more..

Changes to SRS guidance “How to complete CIT return” (2/46/20) (0)

12.11.2020

Practice

In September 2020 the State Revenue Service published an updated version of “How to complete the corporate income tax return.” In this article we summarise information on what has changed, and we look at some new examples offered by the SRS in explaining CIT treatment. Read more..

Intrastat reports and changes to forms in 2021 (3/46/20) (0)

12.11.2020

Practice

This article serves as a reminder of who is liable to file Intrastat reports and how the information to be disclosed will change from 2021. Read more..