Mitigation of high priority business risks (1/25/17)

22.06.2017
Practice
The CEO of any company would do well to consider ways of managing and mitigating their key risks as well as growing their business. Yet not all Latvian CEOs perceive risk management and compliance as a continuous process. PwC’s latest CEO survey reveals that Latvian CEOs rank over-regulation and the resulting heavy compliance burden high among their top business issues. This article explores whether a company is well informed about requirements that are relevant to its business and whether it has mechanisms in place that help it stay compliant in an effective manner. Read more..
 

Bonus and other payments to terminated employee (2/25/17) (0)

22.06.2017

Practice

When a company terminates employment with somebody, it’s not always possible to settle in respect of all income that is due to the former employee. A common situation involves payment of a bonus. This article explores how the employer should report such payments to the State Revenue Service (SRS). Read more..

Rules for obtaining residency certificates to be amended (3/25/17) (0)

22.06.2017

Draft

Proposals have been drafted for amending Cabinet Regulation No. 178 of 30 April 2001, which lays down procedures for claiming relief available under double tax treaties. The proposals set out arrangements for approving a residency certificate issued by a foreign tax authority, which will be valid for five years, as well as prescribing easy terms for transactions below €5,000. This article explores the proposed changes. Read more..

FTT affirms HMRC’s refusal of VAT refund under Thirteenth VAT Directive (1/24/17) (0)

15.06.2017

Practice

On 20 April 2017 the First-tier Tribunal (FTT) issued a ruling in JDI International Leasing Ltd vs HM Revenue and Customs. This case involves a claim by JDI International Leasing Ltd for VAT incurred in the UK when it acquired specialised tools for use on oilfields in the UK. JDI International Leasing Ltd (“JDI”) is a company established in the Cayman Islands and has no fixed establishment in the UK. JDI wanted to recover the VAT under the Thirteenth VAT Directive (Council Directive 86/560/EEC) and made a claim under the VAT Act. HMRC refused the claim on the grounds that JDI made no use of the tools for an economic activity. Read more..

Unemployment benefit after childcare leave (2/24/17) (0)

15.06.2017

Practice

Many new mothers leave their jobs at the end of their childcare leave for a variety of reasons. This article explores the rules governing unemployment benefits awarded immediately after childcare leave and shares our practical experience of how the National Social Insurance (NSI) Agency deals with a new mother that has been employed for some time. Read more..

Exempt intra-Community supplies: does VIES registration matter? (3/24/17) (0)

15.06.2017

Practice

This article explores the ruling made by the Court of Justice of the European Union (CJEU) in Case C-21/16 (Euro Tyre) on 9 February 2017. Read more..

 
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