Content of transfer pricing documentation and prior agreement On 18 December 2018 Cabinet of Ministers Regulation No. 802 “The documentation of transfer pricing and the order, according to which the prior agreement between the tax payer and the tax administration on providing the market price (value) for a transaction or a transaction type must [...]
Amendments to the Commercial Law were adopted on 15 June 2017, stating, among other things, significant changes in relation to transactions with related persons. The amendments came into force on 13 July 2017. Until now the procedure for the affiliation of the related persons and agreements between them was regulated by Chapter 1.1. „Restrictions for [...]
Manufacturing functional models in Latvia There are many reasons why select Latvia as a place for establishing the manufacturing facilities for the production for the needs of the group. Among other advantages we may mention excellent geographic location, developed infrastructure and qualified work-force. In this article we focus on an advantage of Latvian tax [...]
What is shared service center? A shared service center is specially created unit in the legal structure of the companies group, to which a certain business function or several functions are transferred throughout the organization, such as accounting, human resource management and etc. The shared service center has its own staff, responsible for managing the [...]
Latvian transfer pricing documentation requirements The amendments to the Taxes and Duties Act regarding the transfer pricing mandatory requirements, which entered into force on 1 January 2013 introduced new Section 15.2 “Taxpayer’s duty to submit information regarding the transactions with related parties”, which lists the minimum requirements for a taxpayer for documenting the related party [...]
Selection of the legal form for doing business in Latvia Upon commencement of the business activity in Latvia the foreign companies, depending on intended business activity, should select the most appropriate legal form of business in Latvia. This article addresses basic tax and legal considerations for selecting the most appropriate form of business in Latvia. [...]
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