Step Into Spring!
We are pleased to launch a new initiative to keep you up to date with the latest industry insights and developments at Grant Thornton.
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News
Tax Experts on Transfer Pricing
Amendments to the Law “On Taxes and Duties” came into force this year. It is important to note that these changes already apply to transactions carried out from the 2025 reporting year onwards.
Going forward, transfer pricing documentation requirements will apply to Latvian taxpayers engaging in transactions with related foreign companies; related legal entities with at least 20% ownership; related individuals; entities or persons located in low-tax or no-tax jurisdictions; as well as other related Latvian taxpayers, where transactions are carried out within the same supply chain involving related foreign entities or entities/persons in low-tax or no-tax jurisdictions.
Irbītis Re-elected to the Board of the Latvian Association of Certified Auditors
Grant Thornton Partner and Certified Auditor Raivis Irbītis has been re-elected for a further three-year term to the Board of the Latvian Association of Certified Auditors (LACA), continuing his active contribution to the development of the profession and the strengthening of professional standards.
At the same time, Grant Thornton Certified Auditor Ieva Aizsila has been re-elected to serve on LACA’s Examination Committee, where she will contribute to ensuring the professional qualification of future industry specialists, while Certified Auditor Kitija Ķepīte will continue her role as a quality controller.
“The audit profession in Latvia is in a phase of development, and our role is not only to maintain high professional standards but also to actively shape the future of the industry. The role of LACA in this process is crucial, strengthening quality, transparency, and trust,” notes Raivis Irbītis, Partner and Certified Auditor at Grant Thornton.
