bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 24.11.2014 | Name days: Velta, Velda
LatviaLatvia

Latvia could become the second Cyprus

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Starting from next year, dividends paid to or received from non-residents will not be subject to Corporate Income Tax. This will allow attracting investors from third countries to Latvia, tax and logistics experts interviewed by Dienas Bizness note.

According to specialists, this innovation will help motivate foreign holdings to creating administrative centres in Latvia, not Cyprus or Malta, or other countries.

Latvia is made more attractive also by the recently signed convention with Russia regarding the cancellation of the twofold taxation. The signed convention will reduce Russian and Latvian corporate tax burdens, says Tax and Finance Consultant Marina Bickovska.

However, complicated accounting mechanisms and a higher Corporate Income Tax rates remain a serious obstacle for investors. Finance Ministry hopes the planned changes will contribute to the formation of regional management centres in Latvia, as well as finance management centres, copyrights and holding associations’ protection centres.

According to Ainis Dabols, business consultant, the changes to the Corporate Income Tax law – is a step forward towards non-residents, which shows Latvia is a country of low taxes. At the same time, he noted that Russian businessmen already come to Latvia to open their company branches here.

Ref: 104.109.109.4629


Leave a reply

  1. D. says:

    A very wise move by Latvia. I registered a company in LV and have all ready paid more than LVL 100,000 in tax. If LV attracts more international investors like me, the tax burden on regular people can (and should) be reduced.
    Singapore did this and has in record time become one of the wealthiest nations on earth.
    Also, more American and EU investors in LV will reduce the Russian influence.

    Thumb up 0 Thumb down 0

  2. LH says:

    spiegel.de/wirtschaft/soziales/a-865478.html

    Thumb up 0 Thumb down 0

One and the same man ends up in hospital for the 85th time this year

Last weekend, a 40-year-old drunk man was delivered to Riga Eastern Clinical University Hospital’s Emergency Medical and Patient Admission Clinic. What is interesting about this case is that this man has been in this hospital a total 85 times this year.

Fitch issues Tallinn A-level rating for long-term deposits

New York and London-based financial rating agency Fitch Ratings has issued the Estonian capital of Tallinn A-level long-term foreign and local currency ratings (IDRs).

Producer prices in Latvia down 0.5%

Compared to September, producer price level in the Latvian industry dropped by 0.5% in October 2014. Prices of products sold on the domestic market fell by 0.5%.

Number of small-wage recipients declines by 10% in Latvia

In Q3 2014 there were 885.7 thousand employed persons in Latvia or 59.3% of the population aged 15 - 74, of which 4.1 thousand were employed persons still having the status of the unemployed.

Ameriks to receive decision-making rights in large enterprises of Riga municipality

This Monday, November 24th, deputies of Riga City Council City Property Committee supported the initiative to provide Deputy Mayor of Riga Andris Ameriks decision-making rights in large municipal enterprises.

Āboltiņa: Russia uses Latvia’s information space for provocations

Information space is Russia’s weapon of provocations. But Latvia’s security services are prepared for them, especially considering Latvia’s upcoming presidency over the EU Council, says head of Saeima’s National Security Committee Solvita Ābotliņa.

Authorities ask to launch criminal prosecution of businessman Martinsons

In 2008, once the influential businessman Maris Martinsons’ company Evopipes was in charge of building a pipe production plant in Jelgava. Machinery was bought from some German company. The company turned to the Investment and Development Agency of Latvia in order to gain funding from EU funds.

Snow to return to Latvia this week

A new precipitation zone will come close to Latvia in the first half of this week. It will cross Latvia this Tuesday, and will bring about more snow: rain and snow. Roads expected to become slippery as well.

CPCB ends case on possible bribery at Office of Citizenship and Migration Affairs

This October, the prosecutor’s office concluded the criminal case that was launched by the Corruption Prevention and Combating Bureau two years ago. Two officials of the Office for Citizenship and Migration Affairs were suspected of bribery in this case.

Police in U.S. kills 12-year-old carrying air gun

Police in the U.S. on November 23 shot dead a 12-year-old boy, who waved an air gun in a playground.

Economic Diary of Latvia. Entrepreneurs to be provided with comprehensive support

The European Commission has officially approved the programme of the EU Development and Employment Fund for 2014-2020. As part of this programme, Latvia will be provided funding worth EUR 4.4 billion.

Government approves Latvia’s budget plan project for 2015

During the meeting of the Cabinet of Ministers this Saturday, November 22nd, the government approved Latvia’s budget plan project for 2015. The government will soon continue its work on the next year’s budget.

Changes to existing management boards of Latvian freeports to be performed next week

Three Latvian ministries have announced their plans to carry out replacement of existing representatives in management boards at freeports in Ventspils, Liepaja and Riga next Tuesday, November 25th.

Vilks: Europe is stuck in the 19th century

Europe is stuck in a welfare level with too high costs, and it is a neglected disease, believe former Finance Minister of Latvia Andris Vilks.

Romanian organised crime prosecutor accused of corruption

Romanian anti-corruption authority has arrested on corruption charges a prosecutor, who heads a government department investigating mafia, organized crime and terrorism.

Researcher: Russia will play the human rights card against Latvia more often

Russia will increase its use of the human rights card against Baltic States, especially Latvia, which will become the presiding country over the European Union next week, believes Eastern European Policy Research Centre’s expert Rinalds Gulbis.

Lithuania’s political and economic diary. «Lithuanian president’s assaults on Russia exceeds those of Ukrainian radicals», Russian Foreign Ministry

Lithuania’s President Dalia Grybauskaitė has been such a vociferous critic of the Russia that even the Kremlin is exhibiting her to the world as an example of the «extreme» animosity.

Venice could fine use of wheeled suitcases in touristic Italian city

The historic Italian city of Venice considers introducing a ban on wheeled suitcases, as tourist masses keep locals from having a good night sleep.

Experts: crisis in Ukraine is Russia’s previously planned hybrid war

The crisis in Ukraine is Russia’s previously planned hybrid war, in which armed clashes are accompanied by an intensive information campaign, as concluded in the report by NATO StratCom COE.

Ministries to change representatives at freeports of Ventspils and Riga

Latvian Environmental Protection and Regional Development Minister Kaspars Gerhards plans to replace the ministry’s representatives in the management boards of freeports in Ventspils and Riga.

Kaliningrad sprat producers may be forced to close down due to embargo

Kaliningrad canned fish producers may be forced to reduce sprat production volumes or even stop production altogether because of shortage of raw materials.

Lithuania maps out its entrepreneurialism

In a small county like Lithuania, the scope of entrepreneurialism varies tremendously from one region to another. The most people that do not fear business risks dwell in largest cities, but some of the otherwise agricultural and touristy regions in the hinterlands can also boast of a decent number of private business initiatives.

Snow comes unexpectedly to Latvia; drivers urged to be careful

This Friday, November 21st, Latvia was hit by unexpected snowfall. According to meteorologists, snowfall will continue throughout the entire day and night to Saturday. Thickness of the mantle of snow on the ground may reach 6-10 cm in some areas.

Another disciplinary case is launched against Strīķe

Another disciplinary case has been launched against Juta Strīķe, former deputy of Chief of Corruption Prevention and Combating Bureau Yaroslav Strelchenok, according to information from LETA.

SA: management of Latvian ports remains excessively politicized and unprofessional

Replacement of some members of Boards of freeports will not make their management more professional, effective and responsible, believes Latvian State Auditor Elita Krūmiņa. She calls for immediate changes to regulations that govern port management.