Employment offences commonly lead to an administrative penalty, yet employers with no practical experience of the National Labour Office’s administrative offence proceedings do not always have a clear picture of how a penalty is determined and what principles apply. This article explores the main stages of a penalty and ways to challenge it.
To begin the new training season, PwC’s Academy offers everyone interested, whether you are in Latvia or abroad, an opportunity to gain valuable knowledge of taxes and other relevant business topics online.
The year 2021 and the current macroeconomic cycle have brought a number of adjustments and uncertainty about the future to households (private consumers), businesses of various sizes, and policymakers. Covid-19 and related paradigm changes, the risk of recurrent pandemic, disrupted logistics and supply chains, and other factors create substantial risks affecting companies’ ability to stay in business and grow. This article explores common causes of financial distress and debt restructuring tools, including how companies can reach an agreement with the State Revenue Service on paying taxes.
We have written earlier about amendments to the Anti Money Laundering and Counter Terrorism and Proliferation Financing Act (the “Act”), which, among other things, will make it easier for persons that are subject to the Act (“Subjects”) to report suspicious transactions and will set up a common customer due diligence tool. This article explores changes to the requirements affecting the ultimate beneficial owner (“UBO”) of a Subject.
We have written earlier about the VAT treatment of distance sales and the new VAT simplification schemes such as the One Stop Shop (“OSS”) and the Import One Stop Shop (“IOSS”) allowing sellers to register for VAT in one member state and pay VAT on distance sales to consumers in all member states. This article explores what other tax or administrative obligations may arise from cross-border e-commerce in another member state.
The Covid-19 pandemic has also affected risk assessment and decision-making processes in organisations. As the pandemic and restrictions ease off, organisations should revise these processes and make any necessary changes.
The Import One-Stop Shop (“IOSS”), a special VAT scheme for distance sales of goods imported from third countries or third territories, will be implemented across the EU from 1 July 2021 as part of extensive amendments to the VAT rules for e-commerce companies. This article explores an intermediary’s obligations and liability under the IOSS.
Publicly available information on Latvian companies growing their exports or launching business abroad is always welcome, yet they have to meet foreign administrative requirements, including legal issues (work safety, employment, permits and registrations) as well as accounting and taxation. This article explores the obligation to pay foreign corporate income tax (“CIT”) and employee taxes potentially facing a Latvian company. VAT rules are usually assessed separately and a VAT registration requirement can arise where there is no obligation to register for other taxes, hence no VAT comments here.
Collective agreements are a rare occurrence in Latvia, yet they can lay down employment terms such as minimum pay, extra pay and social guarantees applicable to a company in a given industry. These conditions can be enforced whether or not the employer belongs to the main group of employers, so each industry needs to monitor how the social dialogue between employers and workers is progressing. This article explores the significance of collective agreements and their key terms.
The results of a tax audit tend to come as a nasty surprise for the taxpayer. If challenging the tax decision has failed to bring a favourable solution and the option of litigation is not acceptable, the taxpayer can consider reaching a settlement with the SRS to minimise the adverse effects of the tax decision on the taxpayer’s business or financial position.
