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Personal Income Tax Act to be amended (1/30/17) (0)

27.07.2017

Draft

On 9 May 2017 the Cabinet of Ministers decided to support the National Tax Policy Framework 2018–2021, which provides for a major overhaul of the tax system. A set of proposals for amending the Personal Income Tax (PIT) Act, supported by the Cabinet of Ministers, are now publicly available.

As well as differential rates of PIT on different levels of income, many other important amendments are being proposed. This article explores what we see as key changes. Read more..

BEPS: Multilateral Convention Bill (2/2) (2/30/17) (0)

27.07.2017

Draft

This article picks up where we left off last week. Read more..

Documents and payments on termination of employment (3/30/17) (0)

27.07.2017

Practice

As we are now transitioning to electronic documentation, what documents is the employer required to issue when employment is terminated? And what payments are due to the employee when employment is terminated by either party giving notice? Read more..

Tax reform: payroll tax developments (2/29/17) (0)

20.07.2017

Draft

The government has finally approved the extensive amendments to the Personal Income Tax Act and to the National Social Insurance Act it presented to Parliament on 13 July 2017. This article explores some of these amendments. Read more..

BEPS: Multilateral Convention Bill (1/2) (3/29/17) (0)

20.07.2017

Draft

The OECD’s Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (the “Convention”) was approved on 24 November 2016. As many as 69 countries (including Latvia and Lithuania) signed it on 7 June 2017, with eight countries (including Estonia) having expressed their intention to sign it. Under the Convention, Latvia has opted to apply only provisions for implementing the minimum standard of the action plan on BEPS and ensure as far as possible that the new provisions will complement the application of the existing provisions of the covered tax treaties, or that new provisions that do not amend the provisions of the covered tax treaties will be applied. Read more..

 

 
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