Tax & Accounting News
Significant Changes in Annual Reporting for Associations and Foundations — New Procedure Introduced
As of January 30, 2025, amendments to Cabinet Regulation No. 439 have entered into force, introducing new obligations for associations, foundations, and trade unions that prepare annual reports using the single-entry accounting system.
Tax & Accounting News
Non-Residents Exempt from PIT on Crypto Asset Income
To promote the development of the crypto asset sector in Latvia and improve the investment environment, amendments to the "Personal Income Tax Law" will enter into force on January 1, 2025.
Tax & Accounting News
Unified Procedure for Crypto Asset Accounting — New Rules in Accounting
To ensure clarity and a unified approach to crypto asset accounting, as of January 1, 2025, amendments to Cabinet Regulation No. 775 "Rules for the Application of the Annual Financial Statements and Consolidated Financial Statements Law" have entered into force. These amendments introduce a new procedure defining how companies must reflect crypto assets in their financial statements.