Paying dividends in 2019: aspects to consider (1/46/19) (0)

15.11.2019

Practice

Under the transition rules of the Personal Income Tax (PIT) Act, 2019 is the last year in which dividends an individual receives out of profits arising before 2018 qualify for a reduced rate of PIT. This article explores some aspects to consider where a Latvian company pays dividends to individuals in 2019. Read more..

Transaction recognised as transfer of business, not supply of goods (2/46/19) (0)

15.11.2019

Practice

Hiding the true substance of one transaction by substituting another to obtain a tax advantage is not an unusual case heard by the courts. This time the court ruled in favour of the State Revenue Service (SRS) after finding that a taxable person had wrongly deducted input VAT according to a supplier’s pro forma invoices for the purchase of movables, because the real transactions are recognised as the transfer of a business as a going concern, which is outside the scope of VAT. Read more..

Cash flow statement: meaning and practical use (3) (3/46/19) (0)

15.11.2019

Practice

This article completes what we wrote in the last two weeks. Read more..

Is input VAT deductible after breach of industry rules? (1/45/19) (0)

08.11.2019

Practice

We have written earlier about the Supreme Court of Latvia asking the Court of Justice of the European Union (CJEU) to make a preliminary ruling on Altic SIA (the “Company”) vs the Latvian State Revenue Service (SRS) regarding a possible breach of food industry rules in relation to input tax deduction rights. This article explores the CJEU’s Ruling C-329/18. Read more..

Cash flow statement: meaning and practical use (2) (2/45/19) (0)

08.11.2019

Practice

This article picks up where we left off last week. Read more..