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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". 

10
Nov
13.33
13.33

Latvia and the Netherlands stop an international group of tax frauds

On 31 October 2017, an international organised criminal group was stopped as a result of the joint cross-border operation of the Netherlands and Latvia. The criminal group has systematically deceived the state of the Netherlands and legalised criminally acquired funds in the amount of EUR 1.7 million in Latvia since 2012.

25
Sep
14.45
14.45

A Group of VAT Frauds and Money Launderers Stopped

The Finance Police Department of the State Revenue Service (SRS) in cooperation with the counter-terrorism unit “Omega” of the State Police, carrying out 27 searches, stopped a criminal group last week. During the period of criminal activities of the group from January 2016 to August 2017, the State budget incurred losses of approximately EUR 1.7M. Nine persons were recognised as suspects, while the most important evidence was seized with investigators discovering hidden office premises of the group.

7
Jun
17.18
17.18

OLAF receives Global Anti-Counterfeiting Award, seizes 20 tons of fake detergent

Stopping counterfeit goods from reaching the European Union market and harming European citizens is important for the European Anti-Fraud Office's (OLAF), not only to protect the EU budget but also to safeguard the health and safety of consumers. In recent weeks, OLAF's efforts paid off: not only did it seize over 20 tons of fake detergent in a Member State, but the Office was also honoured with the International Organisation Award of the Global Anti-Counterfeiting Group (GACG) Network, a confirmation of its commitment and efforts to fight against smuggling. The award ceremony will take place today (7 June), on the World Anti-Counterfeiting day, in Paris.

2
Jun
14.55
14.55

SRS Customs Police discovers an illegal coffee plant and seizes 5 tonnes of coffee with forged labelling

Customs Police of the State Revenue Service (SRS) has discovered 5.2 tonnes of coffee with forged “Nestle” and “Nescafe” excise labels, as well as coffee production and packing equipment at some excise goods warehouse in Marupe and at some processing company in Riga. The criminals had planned to sell the forged coffee in the market of European Union.

30
May
09.18
09.18

Dog handlers of the SRS National Customs Board came in second at the International Dog Handling Competition in Karelia

On 22–26 May, the international competition and seminar “Anti-Drug Protection: Karelia 2017” organised by the Federal Customs Service of the Russian Federation took place in Karelia. A team from the National Customs Board of the State Revenue Service (hereinafter — “SRS”) traditionally took part in this competition and this year was one of the best in both the team event and individual disciplines.