The Corporate Income Tax (CIT) Act requires companies to include their non-business expenses in the taxable base for a particular tax period. Since the tax period is one month, various situations can have you confused about the right period to report such expenses. This article examines four different situations.
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Ask questionBy a unilateral decision, Russia has indefinitely suspended certain clauses of its double tax treaties (DTTs) with 38 countries from 8 August 2023. This article examines the list of affected countries and the status of Latvia’s DTT.
Last week we wrote about the Cabinet of Ministers’ new Rule No. 333, List of Tax Havens, and about the changes made to this list – four jurisdictions have been added from 1 July 2023, including Russia. This article explores some aspects of corporate income tax (CIT) treatment you need to consider if you continue doing business with a company from Russia or any other jurisdiction that refuses to cooperate for tax purposes.
The Taxes and Duties Act is among the pieces of legislation that have been amended the most in recent months. A number of important changes have been made to reviews facing taxpayers and ways of settling disagreements with the State Revenue Service (SRS).
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