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Doing Business Guide in the Baltics.
31.03.2015
It makes us proud to announce that Gencs Valters Law Firm, a full service law firm in Latvia, Estonia and Lithuania, has crossed another milestone. On March 9th, 2015 our firm celebrated 15 Year...
17.03.2015
Structure
Personal income tax is imposed on income acquired by a natural person, and it consists of:
income from employment;
business income (self-employed income);
gains from transfer of...
05.03.2015
Gencs Valters Law Firm has released a...
23.02.2015
Structure
Personal income tax is imposed on income acquired by a natural person, and it consists of:
salary tax calculated from the income acquired by the employee and is paid by the employer;
fixed...
17.02.2015
Structure
Personal income tax is imposed on income acquired by a natural person, and it includes:
income from employment;
business income (self-employed income);
gains from transfer of...
12.02.2015
Latvia has one of the most attractive shipping taxation regimes in the EU. If the usual company has income it must...
05.02.2015
Lithuania has included 58 countries to a list of low or no tax states. Transactions with these countries have special regulations and are subject to particular taxes applicable for individuals and...
03.02.2015
(Updated 20.04.2016) Latvia has listed 62 countries on a list of low or no tax states. Transactions with these countries have special regulations and are subject to particular taxes applicable for...
26.01.2015
Few Corporate income tax amendments applicable for 2014 income is a good sign, indicating stability in Lithuanian corporate tax system. Besides that, most of law changes are business...
23.01.2015
Estonia has listed 55 countries that are on so-called black list because of their tax policy. The aim of this list to proof that the person who is involved in business is not located at low tax rate...
20.01.2015
Beginning of new financial year is a need to review legal requirements applicable to taxation of 2014 year’s income. There were several substantial amendments of Personal income tax law in...
15.01.2015
According to the amendments made to the Income Tax Act, which became in force from the 1st of January 2015, all companies and permanent establishments located in Estonia...
06.01.2015
Option plans are good ways to reward employees for successful year or to bind them for the company. In Estonia option plans are taxed as fringe benefits. Fringe benefits are benefits received from the employer for...
05.01.2015
From January 1. 2015 EU will change the application of VAT rules in intra-community trades. The new rule will change current situation where...
17.12.2014
Taxable entities
Taxable entities are individuals, legal entities and non-residents that own or have rights to Latvian real estate, including land.
Tax rates
Starting from January 1, 2014 the real estate tax rate is 0,2-3% from the...
09.12.2014
In September Estonian Foreign Minister Mr Urmas Paet signed convention between the Republic of Estonia and the Kingdom of Morocco for the avoidance of double...
20.11.2014
The law which determines the rules of payment of this tax is the Law on Real Estate Tax of the Republic of Lithuania (hereinafter – the Law). According to the provisions of the Law, Lithuanian and foreign natural persons as...
07.11.2014
Expatriates are liable for Latvian taxes depending on their tax residency. Latvian residents are taxable for their worldwide income. Non-Latvian residents are liable for their income derived in Latvia.
Pursuant to the domestic...
05.11.2014
The Law on Value Added Tax of the Republic of Lithuania is the main legal act regulating calculation, payment and declaration of value added tax. Currently in Lithuania value-added tax (VAT) rate is 21%. It shall be...
30.10.2014
Estonian legislation defines Social (Security) Tax as financial obligation imposed on taxpayers in order to secure revenue for pension insurance and state health insurance. Social tax shall be paid on following:
Wages and other remuneration...