Crowdfunding and initial coin offering: road to uniform EU rules

22.10.2018
Open article
Crowdfunding services in EU member states are currently either not regulated at all or governed by the national legislation of each member state. The Crowdfunding Services Bill drafted by the Latvian Ministry of Finance is currently stalled in anticipation of further proposals from EU institutions. Read more..
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Risks associated with reverse charge VAT (2/42/18) (0)

22.10.2018

Practice

To fight VAT fraud, Latvia has adopted reverse-charge VAT in a number of industries. This article explores the risks facing taxable persons affected by this scheme and the precautions they can take to mitigate those risks. Read more..

European Economic Interest Grouping: transfer pricing rules (3/42/18) (0)

22.10.2018

Practice

Multinational enterprise groups engaged in frequent cross-border transactions seek to optimise the provision of services and to cut their costs, for example, by entering into a cost contribution arrangement or by setting up a separate legal entity to provide shared services. In this article, from a Latvian transfer pricing (TP) perspective we explore the European Economic Interest Grouping (EEIG), a type of legal entity that mainly aims to minimise the financial and legal burden by providing support to its business partners. Read more..

In-depth Cooperation Programme: three levels (1/41/18) (0)

12.10.2018

Draft

Announced at the meeting of state secretaries on 27 September 2018, the Cabinet of Ministers’ draft rules for running the In-depth Cooperation Programme (IDCP) make a number of important changes. Read more..

OECD on transfer pricing of financial transactions (2) (2/41/18) (0)

12.10.2018

Draft

This article wraps up our recent series on this topic. Read more..

Ban on opening accounts for shell companies (3/41/18) (0)

12.10.2018

Practice

The events surrounding ABLV Bank and its subsequent liquidation have torn open a wound in the Latvian banking sector. The harsh ban on opening accounts for shell companies spares no one. @WeAreNotShell is a slogan posted on Telegram, Twitter and Facebook as well as other social networks since April 2018 by non-residents suffering at the hands of Latvian banks and complaining how they are having to prove the existence of their business and how endless enquiries and requests from Latvian banks are becoming absurd. Read more..

 

 
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