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Doing Business Guide in the Baltics.
05.02.2016
Micro company tax starting from January 1st, 2016 did not change and the tax of 9 % is applicable for companies with turnover till 7000 EUR, but micro companies with turnover from 7001 EUR to 100000EUR are subject...
02.02.2016
From January 1st, 2016 the vehicle operation tax for vehicles with gross weight till 12000 kg is increased more than twice in almost all weight categories. For example, for vehicles with gross...
27.01.2016
From January 1st, 2016 excise taxes for fuel has been increased. For example, excise tax for unleaded fuel increased from 411,21 EUR to 436 EUR (per 1000 litres), for petroleum gases and other gaseous hydrocarbons from 161 EUR to 206 EUR...
19.01.2016
The SRS has the power to determine taxable object that is decreased with taxes and fees on the basis of statement and levy fine in the amount of 100 %, if it is...
11.12.2015
The Saeima (Parliament) of the Republic of Latvia in the final reading accepted several amendments to the Gambling and Lottery law on 30.11.2015. The amendments are not in the force yet. Law...
13.10.2015
Please find below list of countries with which Latvia has concluded DTT. Albania Armenia Austria Azerbaijan Belarus Belgium Bulgaria Canada China Czech...
22.09.2015
On the 11th of September the Supreme Court of Estonia dismissed cassation submitted by Sirowa Tallinn (Sirowa) in relation with Tax...
11.09.2015
The general rule is that operating losses may be carried forward indefinitely as long as the company continues the activities that caused the losses. However, losses carried forward cannot offset more than 70% of...
17.08.2015
While it is possible for foreign company to conduct business operations in Lithuania withoutestablishing a legal person, it should be noted that such activities may create a permanent establishment (PE)....
28.07.2015
Following the amendments of the Law on VAT, reverse VAT charge shall also apply for construction works, even if customer and contractor are both established in...
21.07.2015
The MOSS system, otherwise referred to as mini one stop shop will allow merchants all over the EU to pay VAT more easily. The MOSS system has been introduced to ease the...
06.07.2015
On 21st of May the Government of Estonia approved several bills for changing the tax laws. Please see below short overview of the relevant changes. National social insurance tax With the proposed...
30.06.2015
Consolidated reporting is regulated by the Law on Consolidated Financial Statements of Enterprises. An entity having one or several subsidiary undertakings must draw up...
18.06.2015
Starting from 13th May 2015 new amendments in micro company tax are in force. The previous regulation of micro company tax Till the amendments the following rates of...
21.05.2015
The Law on Consolidated Annual reports applies to commercial companies and co-operative societies registered in Latvia (hereinafter – the company) if they are parent...
05.05.2015
Taxpayers Corporate income tax is paid by: domestic companies – residents; non-residents; non-resident permanent establishments that perform economic activity. Taxable...
15.04.2015
General corporate income tax rate in Lithuania is 15%. However, following the provisions of the Law on Corporate Income Tax, small companies can benefit from 5% corporate income...
10.04.2015
We are proud to announce that our firm has been recommended as a TOP...
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For questions, please, contact Valters Gencs, attorney at law at info@gencs.eu


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