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Tax Stories: EU Court – VAT invoice issued late? No problem!
A ECJ judgement has been issued in a VAT case. Thus, the Latvian law on the timing of input tax deduction is contrary to the EU VAT Directive. The result will improve companies’ cash flow. Contents: What did the ECJ say? Latvian law is contrary to the VAT Directive What are the consequences? Read the […]
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Tax Stories: Notes from the Vilnius Conference
Philip Baker’s lecture at Vilnius Conference provided a better understanding of the fundamentals of taxpayer rights. However, the most practical lectures were those given by the EU judge on VAT court cases and by the EC. Contents: Philip Baker (+video) The creation of the UN Tax Convention What are some examples of taxpayer rights? Sources […]
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Tax Stories: A holding abroad – what’s wrong with that?
A LAT business has a holding company in CYP (MLT, LUX, NED, etc.). What could be the tax consequences of this? And why are the holding company’s jurisdictions afraid of the questions posed to the ECJ? Contents: Typical situation What might the Latvian State Revenue Service be interested in in such situations? Capital growth Permanent […]
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Tax Stories: VAT in chain & triangulation transactions
The Senate referred questions to the EUCJ. However, it was not easy to determine what the dispute was about, as VAT in supply chain transactions (multiple sales with a single transport) are one of the most complex tax areas. Contents: What happened? What did the SRS claim? What are the consequences? I would like to […]
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Tax Stories: 10% tax instead of 2%?
Correspondence has emerged between the scandalous Epstein and a certain lord regarding a scheme to evade taxes in the UK and Brasil using a Panama offshore company. Why could this be important in Latvia, too? Contents: What happened? Where is the problem? GAAR Rates Where do aggressive planning ideas come from? Read the full story […]