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Amendment to the Law On the Enterprise Register, 2015

January 30, 2015   •   19:22

An amendment to the Law On the Enterprise Register of the Republic of Latvia states: From January 1, 2015 the Latvian Enterprise Register is obliged to make a decision to postpone the registration of: -     A legal enterprise or a branch of a foreign merchant in the commercial register if the address used is noted as one to be a risk -      Or if changes are made regarding the address of merchant or branch of a foreign merchant and the address used is noted as one to be a risk

Responsibility of Board members for tax arrears of legal entity

January 30, 2015   •   18:59

The new Chapter XI 'Collection of the tax arrears of legal entities” has been added to the Law "On Taxes and Fees". Board members are responsible for the tax debts of the company, taking into account the  folowing five criteria:  1) If the amount of tax in arrears is equivalent to 50 minimum wages (EUR 18 000);  2)  That the decision to recover tax arrears has been sent to the entity; 3) After an accumulation of tax arrears any assets have been disposed of to the person concerned; 4) A document has been made stating the impossibility of...

Changes in legislation for Microenterprise tax 2015

January 30, 2015   •   17:00

From 1 January 2015 the following Microenterprise Tax rates will be applied for micro-enterprises with a turnover of more than EUR 7000 : - turnover of up to € 7,000  - 9%; - turnover from € 7,000 up to € 100 000 - 11%.  

Changes to legislation of Personal Income Tax in 2015.

January 29, 2015   •   16:45

1. The general personal income tax rate from 1 January 2015 is 23 %. (2014, 24 %).2. In order to avoid future tax inequality with respect to persons receiving a pension under Latvian law, and persons receiving old-age pension in accordance with foreign laws and regulations, the law "On Personal Income Tax" stipulates that the general non-taxable minimum of 75 euros will be applied until the recipient will reach Latvian retirement age.3. Personal income tax relief for dependents will also apply to children under 19 years of age who are studying...

From 1st of January 2015 the minimum monthly wage will be EUR 360 in Latvia

November 14, 2014   •   16:35    •   Category: News

The government decided to increase the monthly minimum wage from EUR 320 to EUR 360 starting January 1, 2015. The decision to increase the monthly minimum wage will help gradually reduce income inequality in society.