Tax

Construction firms face unexpected risk from border closures

The work stoppage due to the raging pandemic in Europe has created tax risks for Baltic construction companies active abroad because their commercial revenue might be taxed there instead of their home country. Why is it important that activity on a construction site lasts less or more than 6 months? Many Baltic contractors operate on […]

Transfer pricing in an era of pandemic: messy times present opportunities

The current crisis presents opportunities in the field of taxation and transfer pricing. Companies need to decide how to manage their intra-group transaction and transfer pricing systems, to reduce their current tax burden by changing intercompany prices. Where we stand The pandemic forms a clear and present danger for the global economy. Business supply chains […]

Downtime due to pandemic in Europe poses a tax risk for Estonian construction companies operating abroad (in Estonian)

Downtime caused by the COVID-19 pandemic in Europe poses a tax risk to Estonian construction companies operating abroad, as their business income may be taxed in that foreign country instead of Estonia, warns our senior associate Kaido Künnapas. Read more in Estonian.

Downtime due to pandemic in Europe poses a tax risk for Estonian construction companies operating abroad (in Estonian)

Downtime caused by the COVID-19 pandemic in Europe poses a tax risk to Estonian construction companies operating abroad, as their business income may be taxed in that foreign country instead of Estonia, warns our senior associate Kaido Künnapas. Read more in Estonian.

Construction firms face unexpected risk from border closures

The work stoppage due to the raging pandemic in Europe has created tax risks for Baltic construction companies active abroad because their commercial revenue might be taxed there instead of their home country. Why is it important that activity on a construction site lasts less or more than 6 months? Many Baltic contractors operate on […]

Transfer pricing in an era of pandemic: messy times present opportunities

The current crisis presents opportunities in the field of taxation and transfer pricing. Companies need to decide how to manage their intra-group transaction and transfer pricing systems, to reduce their current tax burden by changing intercompany prices. Where we stand The pandemic forms a clear and present danger for the global economy. Business supply chains […]

Emergency situation announced in Latvia

From 9 November 2020 to 6 December 2020, an emergency situation will be in force in Latvia, with the right to extend or shorten it. An emergency situation is a special legal regime during which the government has the right to restrict the rights and freedoms of state administration and local government institutions, natural and legal persons […]

Government support in Latvia to companies suffering from the Covid-19 outbreak

While Covid-19 restrictions continue, the government has decided on support measures to companies suffering from Covid-19. The government has approved the following support measures: Compensation for working capital turnover This support will be available to taxpayers, micro-, small and medium companies, as well as large companies (performers of economic activity) registered at the State Revenue […]

Newly adopted restrictions due to re-declaration of state emergency in Latvia

Transfer pricing in an era of pandemic: messy times present opportunities

The current crisis presents opportunities in the field of taxation and transfer pricing. Companies need to decide how to manage their intra-group transaction and transfer pricing systems, to reduce their current tax burden by changing intercompany prices. Where we stand The pandemic forms a clear and present danger for the global economy. Business supply chains […]

Tax measures available for businesses until the end of the year

Possibility to postpone tax payment terms One of the main tools to help businesses survive difficult times is tax deferral, which is still available to companies affected by Covid-19. They can defer payment of tax debts incurred between March 16 and December 31 of this year and are also exempt from interest for late payment. […]

Construction firms face unexpected risk from border closures

The work stoppage due to the raging pandemic in Europe has created tax risks for Baltic construction companies active abroad because their commercial revenue might be taxed there instead of their home country. Why is it important that activity on a construction site lasts less or more than 6 months? Many Baltic contractors operate on […]

Transfer pricing in an era of pandemic: messy times present opportunities

The current crisis presents opportunities in the field of taxation and transfer pricing. Companies need to decide how to manage their intra-group transaction and transfer pricing systems, to reduce their current tax burden by changing intercompany prices. Where we stand The pandemic forms a clear and present danger for the global economy. Business supply chains […]

EU court: VAT exemption applies to health services provided by phone

In March, the EU Court of Justice ruled that VAT exemption applies to health services provided by phone (case  C 48/19). X is a private limited company incorporated under German law. In February 2014, the company provided advice over the phone on behalf of its health insurance fund regarding health issues, and implemented support programmes […]

E-commerce taxes can have an element of surprise. Be prepared!

Selling goods cross-border on electronic channels entails tax liabilities, some of which may come as rather unexpected. Here are some practical issues our clients have encountered, which hopefully may help avoid their mistakes. As long as you sell goods or provide services in your home country, the rules are simple: you do not have to […]

COVID-19 Lithuanian tax news

The State Tax Inspectorate (STI) announced tax measures for business due to the COVID-19 situation. Possibility to postpone tax payment terms The STI has announced a list of companies that should be deemed to be affected by COVID-19. The list is available for downloading on the VMI website. The following tax payment term extension measures […]

BIOLARS ready to start manufacturing disinfectants

To ensure availability of disinfectants needed to stabilise the state of emergency, to support people living in Latvia and help mitigate the consequences of Covid-19, the Olaine chemical factory BIOLARS has said it is ready to start manufacturing disinfectants in its production plants. Taking into account the increased demand for  ‒and unreasonably high prices of […]