Tax

15.03.2018

EU Court: adjusting input VAT on property transactions (1/11/18)
Tax VAT
On 28 February 2018 the Court of Justice of the European Union (CJEU) ruled in favour of a taxpayer by denying a member state’s right to restrict recovery of input VAT where more than two calendar years have passed with no revenue earned from using real estate (RE). This article explores some of the CJEU findings and related Latvian rules.
15.03.2018

New list of dependants and examples of allowances (3/11/18)
Tax PIT
This article outlines recent changes to the statutory list of dependants and entitlements to dependant allowances in 2018, as well as offering practical advice to employers when it comes to applying income-differentiated personal allowances estimated by the State Revenue Service (SRS).
15.03.2018

Recovery of input VAT on representation and staff sustainability costs (2/11/18)
Tax CIT VAT
A key development in the new Corporate Income Tax (CIT) Act is the concept of “deemed distribution of profit,” which includes non-business expenses. These expenses have a new item: so-called representation and staff sustainability expenses exceeding 5% of the company’s total gross pay for the past financial year on which personal income tax and mandatory national social insurance contributions have been paid to the government. This article explores whether input VAT on representation and staff sustainability expenses is fully recoverable.
08.03.2018

Contributions to private pension funds: rules and changes from 2018 (3/10/18)
Tax PIT
This article offers a summary of the rules and tax treatment for contributions to private pension funds (PPF) paid by employers for employees and by employees on their own.to private pension funds: rules and changes from 2018.
08.03.2018

Rules for applying Company and Consolidated Accounts Act to be amended (2/10/18)
Tax CIT
In an earlier article we informed our MindLink subscribers about changes in accounting for deferred tax and explained that the new CIT Act effective from 1 January 2018 eliminates all temporary differences between the net book value and tax written-down value of assets and liabilities, with the result that deferred tax assets will no longer be realised nor deferred tax liabilities settled. This means that in general no deferred tax asset or liability will be recognised on the balance sheet as at 31 December 2017.
01.03.2018

Amended PIT Act introduces “income from investment accounts” (2) (2/9/18)
Tax PIT
Last week we wrote about the new kind of income for individuals – income from investment accounts. This article looks at criteria the Personal Income Tax Act lays down for an account to qualify as an investment account.
01.03.2018

Payments to tax havens (3/9/18)
Tax CIT
With the new Corporate Income Tax (CIT) Act in force, there are special rules for payments made to tax havens. This article explores some of the changes and main aspects of withholding tax on such payments.
23.02.2018

Amended PIT Act introduces “income from investment accounts” (2/8/18)
Business Tax PIT
In this article we take a look at the personal income tax (PIT) treatment of income from investment accounts applicable from 1 January.
23.02.2018

Payments to non-residents: changes from 2018 (3/8/18)
Tax CIT
Adopting the new Corporate Income Tax (CIT) Act has changed the rules for withholding tax on payments to non-residents. This article explores what we see as key changes and essential aspects of the withholding tax treatment.
20.02.2018

Money Laundering 1/8/2018
Legal Tax AML

The scope of activity expected from organisations in terms of anti-money laundering and counter-terrorist financing (AML/CTF) no longer comes as a surprise, unlike a year ago. The lack of statutory measures in organisations now increasingly indicates wilful non-compliance with, rather than ignorance of, statutory requirements. To ensure that the measures in place are properly implemented and achieve their goals, organisations need an understanding of the forms money laundering can take.
15.02.2018

OECD 2017 Model Tax Convention (2) (3/7/18)
Tax Transfer pricing
This article picks up where we left off last week.
15.02.2018

Reverse charge VAT: services linked to metal product supplies (2/7/18)
Tax VAT
With supplies of metal products and related services (such as cutting, bending, machining, welding, rolling, cleaning, surface treatment and other types of processing) attracting reverse-charge VAT from 1 January 2018, an interpretation recently handed down by the State Revenue Service (SRS) has thrown the metal trade into confusion: reverse-charge VAT applies to those services only if they accompany a supply of metal products. This means that the general VAT scheme applies when accounting for VAT on such services supplied separately. This article explores the issue in detail.
08.02.2018

OECD 2017 Model Tax Convention (1) (3/6/18)
Tax Transfer pricing
On 18 December 2017 the OECD released the latest edition of the Model Tax Convention (MTC) incorporating changes related to Base Erosion and Profit Shifting (BEPS).
01.02.2018

New CIT Act: donations (3/5/18)
Tax CIT
We have already informed our MindLink subscribers about the new CIT Act, including new rules for donations. This article explores differences in the CIT treatment of donations before and after 1 January 2018, when the new CIT Act came into force.
25.01.2018

Solidarity tax payers: things to consider in 2018 (3/4/18)
Social insurance Tax Employees PIT
Since 2016, solidarity tax (ST) has been charged on income that exceeds the cap set by the Cabinet of Ministers for mandatory national social insurance (NSI) contributions. This principle remains in place this year. However, paying ST will provide taxpayers with certain benefits because unlike the old rules, ST payments are now going towards healthcare, social insurance, and personal income tax (PIT) payments. Overall, the ST rules have become more favourable to taxpayers. This article explores this principle and taxpayers’ obligations under the new rules.
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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