Tax

08.06.2018

Transfer pricing validation requirements to be relaxed (1) (1/23/18)
Tax Transfer pricing
This article provides an overview of alternative ways of obtaining market comparables, relaxed requirements for transfer pricing (TP) validation, and safe-harbour solutions recommended by the OECD guidelines, as well as their practical application in countries that have adopted such rules for TP analysis.
08.06.2018

Advance pricing agreement with tax authorities (2/23/18)
Tax Transfer pricing

Nowadays more and more multinational enterprises decide to enter into an agreement with tax authorities for setting the price of a transaction between related parties in advance (Advance Pricing Agreement or APA). This article explores the Latvian practice of entering into an APA.
01.06.2018

Informational declaration of loans made to individuals (1/22/18)
Tax PIT
Entities or individuals are required in statutory cases to notify the State Revenue Service (SRS) by 1 June 2018 of loans made to individuals in 2017. This article explores cases where an informational declaration should be filed and details it should disclose.
01.06.2018

Cabinet to debate Receipt Lottery Bill (3/22/18)
Business Tax
The State Revenue Service (SRS) has recently announced that Latvia is to run a receipt lottery, drawing on the experience of Slovakia, Malta, Portugal and Lithuania in improving the culture of paying taxes and fighting the shadow economy. The Ministry of Finance and the SRS have drafted a Receipt Lottery Bill and submitted it to the Cabinet of Ministers. This article explores the main aspects of the Bill.
01.06.2018

Latvia’s three tier pension system and taxation of pensions (2/22/18)
Social insurance Tax PIT
This article provides a summary of information on Latvia’s three-tier pension system and the taxation of pensions.
28.05.2018

PIT treatment of income from cryptocurrency: new SRS opinion (2/21/18)
Tax PIT
In a publicly available article of 12 January 2018 we set out our thoughts and the SRS’s opinion about how personal income tax (PIT) should be applied to income from cryptocurrency. At that time the SRS believed that income from cryptocurrency is other income (without deduction of expenses) that attracts the standard rate of PIT, i.e. the progressive rate in 2018. The SRS has now changed their mind.
28.05.2018

VAT treatment of hire purchase likely to change (3/21/18)
Tax VAT
The Court of Justice of the European Union (CJEU) published Attorney General (AG) Maciej Szpunar’s findings relating to Case C-153/17 Volkswagen Financial Services (UK) Ltd on 3 May 2018. The case involves measuring the deductible portion of input tax on overall costs in companies that generate revenues from hire purchases. This article explores the AG’s findings, which are likely to significantly affect the VAT treatment of those supplies and procedures for deducting input tax, if the CJEU upholds them.
28.05.2018

Staff sustainability events: tax authority’s opinion (1/21/18)
Tax CIT
One of the innovations resulting from the CIT reform that has attracted employers’ attention is costs of staff sustainability events. The CIT Act defines expense categories that qualify as staff sustainability events, but employers have questions about some unlisted expense categories that help motivate employees and are essentially staff sustainability events. The website of the State Revenue Service (SRS) features answers to employers’ FAQ about staff sustainability events. This article explores those answers and offers our thoughts about two expense categories potentially affecting most employers: coffee and tea in the workplace and collective events.
16.05.2018

Taxation of permanent establishments under new CIT Act (3) (2/20/18)
Tax CIT
To pick up where we left off last week, this article explores how the timing of allocation is treated in Estonia and what the PE should disclose on its monthly corporate income tax (CIT) returns.
16.05.2018

Recent tax news from Estonia (3/20/18)
Tax VAT
This article highlights recent proposals for amending the VAT Act and the Taxation Act expected to come into force on 1 January 2019.
16.05.2018

GDPR begins to apply on 25 May 2018 (1/20/18)
Legal Tax
Enforcement of the General Data Protection Regulation (GDPR) is starting in nine days, and that’s exactly how many days are left before each company that processes personal data must implement any necessary changes to be able to perform such processing according to GDPR requirements and avoid penalties for non-compliance. As you may know, all EU regulations are directly applicable, meaning a member state is not required to pass their provisions into its national law. This article offers an overall stress test to help you assess whether your company is ready to comply with GDPR requirements.
10.05.2018

Taxation of permanent establishments under new CIT Act (2) (2/19/18)
Tax CIT
We continue our series of articles exploring the rules for taxing a permanent establishment (PE) in Latvia under the new Corporate Income Tax (CIT) Act effective from 1 January 2018. The first article described the PE’s taxable items. This article outlines some practical difficulties in timing the allocation of profit and highlights things to consider when it comes to keeping books.
10.05.2018

Tax ruling on free employee meals (3/19/18)
Tax CIT PIT
The State Revenue Service (SRS) has published an advance ruling explaining the tax treatment of meals an employer provides to his employees. This article explores the ruling and the application of relevant provisions of the Corporate Income Tax (CIT) Act effective from 1 January 2018.
10.05.2018

Filing for insolvency after company ceases trading (1/19/18)
Legal Tax
There may be circumstances in which the State Revenue Service (SRS) decides to terminate a company’s business and dismiss its board, but the company is not immediately wound up or stricken off the commercial register. This article explores whether the company’s creditors are allowed to file an insolvency petition in such circumstances.
26.04.2018

New tax payment rules proposed from 2021 (3/17/18)
Tax
Proposed rules for paying taxes, duties and other government charges and for applying payments to discharge liabilities was announced at a meeting of state secretaries on 12 April 2018. This article takes a look at the main points.
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09.05.2025

Closure of PricewaterhouseCoopers tax and business portal MindLink.lv

We would like to inform you that on July 1, 2025, we will cease operations of the portal.   

The last MindLink.lv Flash News will be published on June 17, 2025. The archive of published content will be available until the portal is completely closed.   

Subscribers will be contacted individually. 

Thank you for choosing MindLink.lv as your trusted e-consultant! 

21.06.2023

What should you think about if you want to move to Latvia?

Tax resident status prescribes a personal income tax (PIT) liability on your worldwide income in your tax residence country. You should carefully assess your tax resident status to avoid potential double taxation, if the tax authorities of two countries treat you as their tax resident.
17.03.2023

Nasdaq welcomes PwC as a certified adviser on First North

“By working closely with multiple executives and shareholders of both private and State-owned corporates, we have observed an increasing interest about the capital markets. Business leaders have become more ambitious and better aware of the myriad of benefits from attracting capital via the exchange. At PwC, we are confident that First North Certified Adviser status will allow us to provide a more diversified advice for our clients in the Baltic region and help navigate them in the journey of an intensified capital market activity,” highlights Raimonds Dauksts, Head of Advisory at PwC Latvia.

First North is a growth market designed for ambitious small and medium-sized companies in the Baltics. Being a Certified Adviser permits PwC to guide growth companies in Baltics through the Firth North application process and ensure they meet all the market’s requirements on a continuous basis.
See all PwC publications