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17
Oct
09.11
09.11

SRS Presents a Unique Company Rating Tool in the Baltics

The State Revenue Service (SRS) has created a yet unseen project in the Baltics for measuring the company rating: “Taxpayer Rating”. SRS invites entrepreneurs to try out the new tool at the stage of the pilot project and provide their proposals on improvements by the end of this year.

24
Jul
15.30
15.30

SRS to Become More Available to Foreign Investors

The State Revenue Service (the SRS) has carried out considerable improvements in servicing foreign investors. Several solutions have been developed to help foreign entrepreneurs to better orientate themselves in the Latvian tax system and the range of SRS services. Special focus is placed on an individual approach and high level service standards.

12
Apr
15.58
15.58

The SRS Provides Consultations to the Biggest Genome Sequencing Organisation from China

On 12 April, within the framework of the cooperation between the State Revenue Service (SRS) and the Investment and Development Agency of Latvia (LIAA), SRS will be visited by representatives of the Chinese research organisation BGI. BGI is the world’s biggest genome sequencing centre, which intends to establish the Life Sciences and Technology Park in Latvia. BGI representatives applied to the State Revenue Service for a consultation in issues of customs rates and VAT payments.

23
Mar
09.58
09.58

How Will the Tax Reform Affect Me?

Last year, within the framework of the tax reform, the Saeima approved several bills, which means that starting from this year’s 1 January both entrepreneurs and natural persons are affected by significant changes in the tax area.

12
Jan
15.30
15.30

Important information on excise tax certificates

Excise duty guarantee certificates with specific due date which are issued until 12th of January, 2018, are valid with conditions specified therein until the end of due date or until the first re-registration. Whereas, excise duty guarantee certificates with unspecified due date which are issued until 12th of January, 2018, are valid with conditions specified therein until 31st of December, 2018, or until the first re-registration.

5
Jan
15.44
15.44

The most important changes affecting employees after the tax reform

The State Revenue Service (SRS) reminds that in the course of the tax reform as of 1 January 2018 several significant changes will also affect employees. The main changes concerning employees include the significant increase of the minimum wage, the assessment of payroll taxes, in particular, personal income tax and mandatory state social insurance contributions, as well as the possibilities to obtain the personal income tax refund for the eligible expenses. 

5
Jan
15.40
15.40

The most important changes affecting performers of economic activities after the tax reform

The State Revenue Service (SRS) reminds that in the course of the tax reform as of 1 January 2018 several significant changes will also affect performers of economic activities (self-employed individuals), including owners of farms and individual merchants. The main changes affecting performers of economic activity are related to the assessment of taxable income for personal income tax purposes, personal income tax rates and state mandatory social insurance contributions.

5
Jan
15.38
15.38

As of 2018, new corporate income tax payment procedure

Amendments effected in the framework of the tax reform as of 1 January 2018 provide for a conceptually new corporate income tax (CIT) assessment procedure. From now on, the CIT rate will be 20 % but it will only apply to the profit share which will be distributed or disbursed as dividends, or used for purposes not directly related to business development whereas the reinvested profit will no longer be subject to CIT. In future, no CIT advance payments will have to be made.

5
Jan
15.35
15.35

Changes in the capital gains tax assessment

In the framework of the tax reform, as of 1 January 2018 several amendments to the law On Personal Income Tax take effect. One of them relates to declaring and paying tax on capital gains. Next year, the tax rate and the deadline for submission of the capital gains tax declaration will change. If transactions with capital assets will be initiated but not completed until 31 December 2017, the current rate of the capital gains tax in the amount of 15% will apply to the resulting capital gains.

22
Nov
15.37
15.37

State Revenue Service Invites to Use Information Available in Its Publicly Accessible Database

To promote public awareness, as well as safety of the commercial operations environment, honest competition and voluntary fulfillment of tax liabilities, State Revenue Service (hereinafter – SRS) will supplement its publicly accessible database with new information on taxpayers. The form and volume of the published information is determined in the amendments to the law "On Taxes and Fees".