The activities carried out regularly for business
The laws and regulations and other binding documents laid down in a series of requirements which Uzņēmējam, performing economic activity, must respect and ensure that they are implemented.
Corporate income tax (CIT) declaration
● CIT fills in for the taxation year (year for which a merchant has paid taxes) and shall submit the results of the State Revenue Service (SRS), using the SRS electronic declaration system (EDS)https://www.vid.gov.lv/lv/elektroniskas-deklaresanas-sistema.
● Declaration shall be submitted concurrently with the company's annual report.
● CIT declaration is made all the tax payers, including permanent representative offices of non-residents.
Added value tax (VAT) declaration
● All added value tax payers declarations and statements by SRShttps://www.vid.gov.lv/lv/deklaraciju-iesniegsanas-un-nodoklu-nomaksas-termini-6are to be submitted electronically, using the SRS electronic declaration system EDS orhttps://www.vid.gov.lv/lv/elektroniskas-deklaresanas-sistema.
● The procedures by which the VAT statement is to be completed and its Annexes shall be determined by the Cabinet of Ministers “The rules on the added value tax declarations’
● added value of the tax declaration for the taxation period shall be submitted to the 20 days after the end of the taxation period (year for which a merchant has paid taxes), through EDShttps://www.vid.gov.lv/lv/elektroniskas-deklaresanas-sistema.
● VAT amount payable by the national budget has to be transferred to the appropriate State basic budget revenue accounthttps://www.vid.gov.lv/lv/konti-nodoklu-un-nodevu-samaksai
Added value tax (VAT) refund
● State Revenue Service (SRS) for tax administration, 30 days after the date of submission of a declaration (or from the date of submission of a specified, or late tax return) transfers the overpaid tax amount to next taxation period (year for which a merchant has paid taxes).
● declared during the assessment of the overpaid amounts of tax, the SRS has the right to extend the approval of the overpaid tax amounts to 75 days if there is a need for additional information.
● The overpaid VAT repayment cases and procedures (https://www.vid.gov.lv/lv/pvn-parmaksas-atmaksa) determines the added value tax law (https://m.likumi.lv/doc.php?id=34443)
● VAT repayment decision may be appealed within one month after receipt of the decision by submitting an application to the State Revenue Service.
The company's annual report –
● annual reports and consolidated annual report in the law (https://likumi.lv/ta/id/277779-gada-parskatu-un-konsolideto-gada-parskatu-likumsthe company's annual report) is determined on the content, their preparation, the audit (examination), approval, submission and issuance procedures for the annual report of the disclosures, as well as the amount of information, exemptions and exemption division into categories.
● The annual report for each accounting year https://www.vid.gov.lv/lv/gada-parskati finished:
foreign merchant branches;
non-resident (foreign merchant) permanent missions;
the turnover threshold of EUR 300 000 pārsniegušie individual undertaking, farms and fisherman’s household.
Payroll tax booklet
● payroll tax booklet provides:
tax payer registration;
personal income tax payment control;
the correct application of the non-taxable minimum and tax relief.
● payroll tax booklet is an entry in the SRS Tax information system.
● electronic documents in the payroll tax booklet is available SRS EDShttps://www.vid.gov.lv/lv/elektroniskas-deklaresanas-sistema.
● Employers shall, using the SRS electronic declaration system (EDS), it is possible to obtain information (https://www.vid.gov.lv/lv/algas-nodokla-gramatina) for its and current issues related to the applicable tax relief which the worker has been validated.
Labour protection system in the undertaking
● labour protection system in the undertaking shall be formed according to the labour protection lawhttps://likumi.lv/doc.php?id=26020and on the grounds of the Cabinet regulations issued by http://www.lm.gov.lv/text/3334.
● The labour protection requirements aimed at:
work environment risk factors, such as working with chemicals or carcinogenic substances;
a specific sector, such as construction and forestry;
general procedures, such as the procedures for carrying out mandatory health examinations of personal protective equipment requirements, etc.
• State Revenue Service (https://www.vid.gov.lv/) operators shall provide information and consultation on business conduct regulatory provisions concerning tax and administrative requirements.
• To receive consultation on tax matters, the operator may apply to any SRS branch (https://www.vid.gov.lv/lv/nodoklu-maksataju-klientu-apkalposana), as well as communicate via telephone or in writing, sending questions to the e-mail address VID.email@example.com.
• State Revenue Service information regarding the value added tax
• Ministry of Welfare shall compile information regarding employment legal relationships, labour protection (http://www.lm.gov.lv/text/3337), while under “Employers” (http://www.lm.gov.lv/text/53) is available for general information on employment contracts, minimum salary, employers' rights and obligations, etc. business related issues as well as provides an insight into labour protection and rights (http://www.lm.gov.lv/upload/darba_devejiem/darb_dev_rok.pdf).
• Statutory Interpretation, as well as other employers useful materials, including practices standards of certain sectors available: www.stradavesels.lv
Conduct of business
Regulatory enactments and other binding documents set out a number of requirements that an entrepreneur must observe and ensure when conducting an economic activity as well as commercial activities. Information on registers, unit registration, tax issues, purchases, statistics, imports, exports, financial support and other issues.
Procurement and statistics
As an economic operator, it is best to participate in public procurement, which is an electronic procurement system (EIS), how to challenge public procurement, how to publish a statement on the recipient's procurement procedure, where a merchant can submit statistical reports.
Participation in public and municipal procurement
Types of procurement procedures and roles of procurement participants, publications on procurement, commencement of work in the Electronic Procurement System (EIS), preparation and submission of tenders for procurement, examination of the tender and results of the procurement competition, challenge of the requirements of procurement procedures and their results, verification of the conformity of the supplier with the procurement conditions, conclusion of the procurement contract.
Rights and obligations of employees
Employment contract, hours of work and rest, place of work, employment outside Latvia, wages and bonuses, social security, safe and secure working environment, holidays, part-time work, trade unions, protection of intellectual property, non-discrimination, psychological safety, breaches, key responsibilities of employees, termination of employment and useful resources.
Setting up an online store, mandatory information on the merchant, registration of business and department, internet sales of personal belongings, sales restrictions, prohibitions and special conditions, delivery and payment of orders, consumer rights, useful resources.
Customs duties and other duties charged on imports of goods
Customs duties are a set of duties to be charged by the customs authorities for goods imported from third (non-EU) countries and released for free circulation in the customs territory of the Union.
Receipt of co-financing of European Union funds
Types of European Union funds, opportunities for co-financing for citizens, entrepreneurs, non-governmental organizations, scientific institutions and researchers, farmers, rural entrepreneurs and fishermen. The process of searching for opportunities, applying for and implementing projects is supported by European Union funds.
Imports and exports of food and animals
Preparation for international trade, intra-EU trade, exports to non-EU countries, imports from third countries, customs procedures and payments, support options.