Since announcing a state of emergency on 12 March 2020 due to COVID-19, the Latvian Government has been working on measures to support affected companies. The following support is already available: Payment of salaries to employees from the state budget: where employees are not working as a direct consequence of limitations imposed by the Government (an order on […]
In the coming months, many companies will face indebtedness and liquidity problems that can be alleviated by acting prudently. It is important to address indebtedness and the resulting liquidity problems at the earliest possible stage. Otherwise, they may deepen and become insurmountable, when it may no longer be possible to return from bankruptcy, writes our […]
We are advising KPMG Sweden on their acquisition of KPMG Latvia and KPMG Lithuania as part of KPMG’s international development. Bringing new opportunities The acquisition will bring new opportunities and will allow KPMG Sweden, KPMG Latvia and KPMG Lithuania to become even stronger market players in the region. According to Björn Hallin, Board Chairman at […]
On March 22, the law “On Measures to Prevent and Manage National Threats and Consequences of COVID-19” (Law) was passed. The law enters into force retroactively, as of 12 March 2020, when a state of emergency was declared in Latvia. The law contains provisions on the following tax items. 1. Extension of payment of taxes […]
Starting from 01.07.2020 all branches and representative offices of foreign companies must file information on their beneficial owner with the Latvian Commercial Register. If a foreign company has not registered a branch or a representative office at the Latvian Commercial Register but has registered as a taxpayer with the State Revenue Service (SRS) for carrying […]