An interview with Grant Thornton Managing Partner Raitis Logins on the firm's ambitions, growth and future plans.
Raitis Logins has been appointed Managing Partner of Grant Thornton Baltic in Latvia.
Grant Thornton partner and certified auditor Raivis Irbītis has been re-elected to the Board of the Latvian Association of Certified Auditors (LACA) for the next three-year term, continuing his active contribution to the development of the profession and the strengthening of professional standards.
Deemed income of the Member of the boardEnterprise income tax minimum As mentioned before, The minimum wage is changed from 320 to 360 euros. Also the minimum wage per hour is increased to 2.166 euros (before it was 1.933 euros). Maximum threshold of the following social allowances has been canceled: sickness benefit, unemployment benefit, maternity and paternity benefit, parental allowance. Personal income tax is reduced form 24% to 23%. The State family allowance is increased – 11.38 euros for the first child, 22.76 for the second and 34.14 euros for each following. Increased tax rate for the microenterprises from 9% to 11% (for the part of turnover exceeding the threshold of EUR 7000). A new Law of Arbitration is enforced starting from 1st of January 2015 thus abolishing Part D of the Civil Procedure Law
We hereby remind that on June 1, 2014 Cabinet regulations comes into force, according to which the payroll tax books issued in paper form will no longer be valid. Instead, the payroll tax books will be issued in electronic form.
Starting from 1st of January 2014, it will no longer be possible to transfer losses in between companies in a group. The current amendments are already scrutinized and partly adopted in the Parliament of the Republic of Latvia (The Parliament).
Information about the draft of ammendments to Individual Income Tax law
EURO INTRODUCTION LAW On the 31st of January 2013 Parliament passed the Euro introduction Law. It is anticipated that Latvia will join Eurozone in the 1st of January 2014. What will be the exchange rate? Parallel circulation of euros and latsWhen can lats be exchanged for euros?PricingIntroduction of euro in accountancy
