Company management in Latvia

Two aspects of the environment played a role in shaping corporate governance in Latvia. The very first part of this story takes place in 1991 when Latvia won its independence by seceding from the political and economic institutions of the Soviet Union. This event marks the beginning of this particular narrative. Confusion reigned supreme among […]

Foreign tax relief and tax treaties in Latvia

Persons residing in the country are entitled to relief from double taxes and attractive tax treaties. Foreign tax payable on income in the tax base may be taken as a credit against Personal Income Tax based on proof of income earned and income tax paid as approved by the foreign tax authorities. A tax credit […]

Double tax agreement in Latvia

The term “double taxation agreements” refers to bilateral or multilateral pacts that prohibit the double imposition of taxes on the same income or property by two or more countries (DTAs). The most important objectives of the DTA are to distribute the right to collect taxes among the countries that have agreed to its terms, eliminate […]

International taxation in Latvia 

International taxation determines the tax charged on income earned by a taxable person or business according to the tax laws of different countries. Tax systems vary from region to region with no general rules. These differences allow for double taxation when the same income is subject to tax in several countries and no taxation when […]

Exporting goods from Latvia 

The country has one of the fastest-growing export rates in the EU. Goods produced in the country are usually exported to foreign countries outside the EU. Its total export in previous years has surpassed EUR 8,6 billion and improved qualitatively. Even the percentage of technology-intensive and high-value-added goods has increased. Although exportation is growing, import […]

Importing goods to Latvia – Regulations

There are no import or export taxes or value-added taxes imposed on the transit of products via Latvia (VAT). The import taxes that are levied vary not just according to the country of origin but also the type of goods that are brought in. As a member of the WTO and the EU, Latvia is […]

Ultimate guide on starting a business in Latvia as a foreigner

In Latvia, limited liability (SIA) or stock corporations (AS) with share capital operate the majority of businesses. For small and medium-sized firms, a limited liability company is a less onerous option. Private and public stock companies are the two types available. The public may only purchase shares from a corporation with a public stock market. […]

The most profitable business industries in Latvia

With a population of over 2 million people and a GDP valued at USD 23.4 billion, the country is a hub for business owners and foreign investors. It provides investors with a skillful workforce at affordable labor costs and competitive tax rates. Both foreign and local investments are treated equally by the law. The economy […]

Registration of new company in Latvia 

Starting a business in the country is quite easy and lucrative. With the numerous incentive policies introduced by the government for the benefit of foreign investors and local business owners, the prospects of setting up a company within the republic are limitless. Once one has a business idea, there are different companies to choose from […]

Company registration authority in Latvia 

The Register of Enterprises in the country is the authority in charge of registering companies within the territory. The Enterprise Register enters companies, business owners, branch offices, and representative offices as well as changes in certain information. It also registers commercial pledges, associations, foundations, public-private partnership agreements, trade unions, etc. Business owners can request information […]