Tax reform: new corporate tax calculation model (2) (1/33/17) (0)

17.08.2017

Passed

Last week we outlined some of the latest developments in corporate income tax (CIT) treatment. This article continues exploring key changes. Read more..

Deducting input VAT paid before VAT registration (2/33/17) (0)

17.08.2017

Practice

It is not unusual for traders not to register for Latvian VAT right after they are incorporated and to do so at a later date. What invoices qualify for deduction of input VAT? Can input VAT be deducted only on invoices that were issued and received after the trader registered for VAT? Read more..

Lithuanian tax news (3/33/17) (0)

17.08.2017

Passed

This article offers a summary of recent legislative developments in Lithuania. Read more..

Tax reform: new corporate tax calculation model (1/32/17) (0)

10.08.2017

Passed

On 28 July 2017 Parliament adopted amendments to the Corporate Income Tax (CIT) Act in their final reading, significantly changing the principles of CIT treatment. The new CIT model largely resembles the one Estonia adopted 17 years ago (see our Flash News edition of 18 May 2017) which provides for paying tax at the time any profit is distributed (including deemed profit distributions). This article explores some of the new principles for calculating CIT. Read more..

Multinational groups: country-by-country reporting (2/32/17) (0)

10.08.2017

Passed

A taxpayer within a multinational enterprise group is required to file a country-by-country report (CBCR) with the State Revenue Service (SRS) by 31 December 2017 or to notify the SRS of the group company filing the CBCR and of its tax residence by 31 August 2017. Conditions that necessitate the filing and notification of the filing as well as related matters are determined by the Cabinet of Ministers. This article takes a look at the main points. Read more..