Reporting

• 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