Form of government:Parliamentary republic
Area:64 500 км2
- Monthly / quarterly - regarding the payment of personal income tax, social payments for employees, VAT;
- Every year, no later than April 30 (large companies - until July 31) - annual reporting and tax return. It must be certified by a sworn auditor if one of the following criteria is exceeded: 400 thousand euros - the amount of assets, 800 thousand euros - net turnover, 25 - the number of employees. It implies an excess at the end of the year (reporting period);
- Within 15 days from the date of submission of the annual financial statements, a full settlement of income tax is carried out.
Traditionally, the reporting period is the calendar year. For the first reporting period, a longer period of 18 months may be established. The State Revenue Service (SRS) is responsible for the administration of the Latvian tax system in the country.
Corporate Legislation of Latvia
Representative offices Download
The Commercial Law Download