Flash News

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Flash News is the latest information on proposed and effective changes in tax and business legislation. We aim to save you time by monitoring the latest developments and bringing key points to your attention. If you wish to receive our free weekly Flash News summarising the latest Latvian tax and business developments by e-mail, please register at mindlink@lv.pwc.com.

Fuel card transactions: supply of goods or financial service? (1/21/19) (0)

23.05.2019

Practice

On 15 May 2019, the Court of Justice of the European Union (CJEU) ruled on case C-235/18 Vega International regarding the VAT treatment of a transaction in which a company makes its fuel cards available to another company (business partner). This article explores the CJEU findings and their practical application. Read more..

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Working capital and its cycle (2) (0)

23.05.2019

Practice

This article completes what we wrote last week. Read more..

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Annual leave (3/21/19) (0)

23.05.2019

Practice

A company does not want to accrue any unused vacation and orders its employees to use it. What do you do if an employee keeps coming to work during their vacation and refuses to use it? Is the employer required to cancel the vacation order and pay wages if the employee is working? Read more..

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CJEU on deducting input VAT where reverse charge should have been applied (1/20/19) (0)

17.05.2019

Practice

On 11 April 2019, the Court of Justice of the European Union (CJEU) ruled on case C‑691/17 PORR Epitesi Kft. The CJEU examined whether the Hungarian tax authority had acted contrary to the VAT directive and VAT principles in preventing a customer from deducting input tax on an invoice issued under the general VAT scheme for a supply attracting domestic reverse-charge VAT. This article explores the CJEU ruling. Read more..

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Working capital and its life cycle (1) (2/20/19) (0)

17.05.2019

Practice

Every company should be able to keep up its daily cash flows and have sufficient finances to cover its labour costs, taxes and trade payables as they fall due. Optimum working capital (WC) levels should be maintained in both the short and the long term. This article explores the concept and related matters. Read more..

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