Last year, more than four million electronic documents were submitted to Latvia’s State Revenue Service’s Electronic Declaration System and the number of users continues to rise. Nevertheless, every now and again a question comes up from a new user about the system and its functions, as it was recently concluded in the Accounting Forum 2015.
Submitting a document to SRS used to include waiting long queues and mountains of paper. Now, on the other hand, SRS’ EDS allows users to connect to the system from any electronic identification system in Latvia (internet banking or electronic signature).
Nevertheless, anything can happen, and specialists offer several pieces of advice.
Sort out the authorization manager:
When starting your work, make sure you properly configure EDS authorization manager, which automatically permits officials to sign and submit documents to the system. According to SRS Tax Management Information System Support Department’s chief tax inspector Sergei Nikityuk, this is important is there are multiple people working in a company’s management board and all of them have responsibility over a specific area.
It is important to keep in mind that the authorization manager for EDS clients is the person who decides other users’ rights to view, correct and submit documents. It should be a person who uses EDS the most often and who is trusted by the company’s owners.
Always make sure reports are submitted:
EDS is most often accessed by accountants, who prepare and submit all necessary documents to SRS, admits Member of the Board of Latvian Accounting Outsourcing Association Raivo Pede. «Company managers should trust their accountants. Otherwise it is impossible to ensure productive work,» – explains Raivo Pede.
It does not mean, however, that no one should look at documents before submitting them. It is always important to check and double check all numbers. It is also worth making sure documents have been actually submitted.
Always state correct contact information:
EDS is an important communication channel between SRS and taxpayers. With that, it is a good idea for users to make certain from time to time that their profile contains correct contact information. This particularly applies to correct e-mail address.
Make sure tax reliefs are applied correctly:
Any employed person should know that EDS does not exist solely for the submission of income declarations. The system can also help check the application of certain tax reliefs, the process of certain tax payments and other important information.
Pede reminds that the process of submitting annual income declarations is the simplest it has ever been. Nevertheless, if a company plans some major deal, it would be best to consult with an accountant as to how it would be best to pay taxes.
Check declaration submission schedule:
Accountants working for multiple companies will find EDS’ declarations and tax payment calendar especially useful: this calendar helps keep track of all tax payments and they payment schedule in one user-friendly interface.