Taxes in Latvia
It should be noted that in Latvia level tax payments low compared to other European Union locations. This fact attracts many foreign entrepreneurs to conduct successful Business in Of Latvia.
The capital of Latvia is Riga, the country's population is 1 people. The key task of the government of this state is to develop the country and regulate the tax system in accordance with EU standards. It is for this reason that quite often various changes appear in the legislative framework.
Local authorities make a lot of efforts to avoid double taxation. Income tax in Latvia equal to 15%, which is a significant advantage for small business owners. Favorable conditions provided for businessmen help attract a large number of entrepreneurs.
Taxation of Latvia
The tax system of the Nordic state covers the following tax payments:
- Direct – social payments, income tax from individuals and legal entities, for natural resources and others.
- Indirect - value added tax, for electrical energy, vehicles, and so on.
Tax system of micro companies
In Latvian taxation, there is additionally a special tax payment regime for micro-companies. Such a payment simultaneously includes several types of taxes, the rate is 15% of the total turnover of the enterprise.
Moreover, in microorganizations social benefits are not deducted from employees’ wages. insurance premiums. If you need competent advice on opening a company in Latvia, local taxation, the Company’s specialists «E-COMMERCE BROKER" is always ready to provide detailed advice.
Our specialized team has extensive knowledge and specifics of taxation in different jurisdictions. Rich professional experience allows us to cope with problems of any complexity.
Tax for legal entities in Latvia (large/medium business):
- the owner of each company pays 2-20% of income, the exact rate depends on the type of activity of the organization and the amount of profit;
- enterprises with investment cases worth more than 7,1 million euros can count on good benefits from the state, but provided that the activity is carried out in a priority area for Latvia.
The duration of the reporting year is 1 year; this period may not coincide with the calendar year. If necessary, our company will undertake accounting services for your company on a contractual basis and at an affordable rate.
Favorable jurisdiction for running a successful business
Latvia is an amazing Baltic country, which is an ideal location for conducting your chosen commercial activity and living a comfortable life. If you are thinking about moving to this country in order to open a business or open a company, then it is important to know what taxes exist in this country for residents and non-residents, the level of tax burden and other points.
Contact us, we will tell you in detail about the existing conditions, current taxation in Latvia and we will be glad to have fruitful work. The state offers system of reduced tax rates, After discussing all the details, we will offer you the optimal taxation for your company, and we will take upon ourselves the resolution of issues with company registration in Latvia.
You can contact us using the contacts provided, or through the online feedback form provided on the website.
