This article explores changes to the royalties scheme effective from 1 July 2021 and applicable throughout 2021, as well as other ways in which authors can receive royalties. This article summarises the practicalities and administrative obligations facing the payer of income and the Latvian tax-resident payee.
When starting a new business, it can be a challenging task to establish a sustainable financial infrastructure from the very beginning. For the investors focusing on start-ups, one of the most difficult tasks is determining how to price the investment.
E-commerce businesses making cross-border supplies of goods and services to consumers in the EU as well as electronic interfaces facilitating those supplies are advised to evaluate how the expected VAT changes affect their VAT registration and compliance requirements.
The new rules are rather complex and require a detailed analysis to assess their impact and conditions for implementing them. We have put together the most critical changes affecting a number of e-commerce businesses.
Effective as of 1 July 2021.