Is input VAT deductible after breach of industry rules? (1/38/18) (0)

21.09.2018

Practice

The Administrative Division of the Supreme Court of Latvia has asked the Court of Justice of the European Union (CJEU) to give a preliminary ruling on a case involving Altic SIA (the “Company”) against the Latvian State Revenue Service (SRS). This article explores the main aspects of the dispute. Read more..

Executive vehicles: CIT treatment in 2018 (2/38/18) (0)

21.09.2018

Practice

With the reformed corporate income tax (CIT) in place, executive luxury vehicles are still governed by special rules. This article explores some of the aspects that deserve attention this year. Read more..

OECD on transfer pricing of financial transactions (3/38/18) (0)

21.09.2018

Draft

One of the last missing pieces of the OECD’s BEPS project involves developing transfer pricing guidance on financial transactions. While the OECD had pushed back the publication several times, on 3 July 2018 they released a non-consensus discussion draft that sets out various approaches that may be appropriate for the topics covered, without giving explicit guidance. The public were invited to comment on the draft by 7 September 2018, while the report is to be finalised by April 2019. This article provides a brief summary of the draft. Read more..

CIT Act to deal with controlled foreign companies (2/37/18) (0)

17.09.2018

Draft

Latvia is in the process of passing into its national legislation the provisions of the Anti-Tax Avoidance Directive (2016/1164) to achieve its aims of preventing tax base erosion on the internal EU market and profit shifting outside the EU. This article looks at some of the new provisions for controlled foreign companies (CFC) to be inserted in the Latvian Corporate Income Tax (CIT) Act. Read more..

New rules for income tax returns (3/37/18) (0)

17.09.2018

Draft

The Cabinet of Ministers’ new Regulation will already apply when completing the income tax return for 2018. This article explores key changes to the procedures for completing the annual income tax return. We will discuss changes affecting traders in a separate article. Read more..

 

 
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