Articles on taxes

Tax rates in Latvia table
Here you will find information about all taxes in Latvia, about all tax rates, taxation periods and legal basis of each tax. More…
Corporate Income Tax (CIT) in Latvia
Corporate Income Tax (CIT) in Latvia is described in the Law “On Corporate Income Tax”. The corporate income tax is imposed on the company profits. The corporate income tax is paid by: – companies, individual enterprises or farms, or fish farms registered in Latvia which prepare annual reports according to the Annual Accounts Law; – institutions funded from municipal budgets that obtain income from economic activities which is not envisaged in the state or municipal budget; – permanent representative offices of non-resident undertakings. More…
Taxes in Latvia
The tax system in Latvia is not the simplest one, however, it cannot be considered as very complicated in comparison to the old EU Member States. Total tax weight in Latvia is one of the lowest in EU and tax-to-GDP ratio is a little below 30% of GDP, when comparing minimum personal income tax rates of these is one of the highest in EU. Now the tax weight on labor in comparing to neighbor countries, is the highest, that is why the government has undertaken to reduce taxes on labor from 2013. More…
Micro-enterprise tax in Latvia
Criteria for a micro-enterprise tax. The entrepreneurship must be implemented in the following forms: • individual undertaking; • individual enterprise; • farm or fish farm; • natural person registered at the State Revenue Service (SRS) as an economic operator; • limited liability company. More…
Value Added Tax (VAT) registration in Latvia
Registration of Value Added Tax (VAT) taxable persons at the State Revenue Service (SRS) is governed by the Law on Value Added Tax listing VAT taxable transactions and their taxable value, as well as by the Cabinet Regulations No. 933 “Procedures for the Application of Provisions of the Law on Value Added Tax” adopted on 14 November 2006. Registration procedure. More…
Personal Income tax (PIT)
Taxpayers. · Individuals who are residents and who have obtained income in the Republic of Latvia and/or foreign states during the taxation period; · Individuals who are non-residents and who have obtained income in the Republic of Latvia; · owners of individual enterprises, as well as farmer and fishermen farms, who have obtained income in the Republic of Latvia and who are not subject to corporate income tax; · owners of micro-enterprises in accordance with the Micro-enterprise Tax Law… More…
Natural Resources Tax (NRT)
General things about Natural Resources Tax are described below. But such import things as Natural Resources Tax rates and NRT exemption are described detailed in the Law on Natural Resources Tax. Natural Resources Tax payers. Taxpayers of NRT are persons, who… More…