As a member of the European Union, Latvia’s VAT regulations are in compliance with the EU VAT Directive. Accordingly, the Latvian VAT Act aims to achieve harmonisation with the EU regulations and legal practice and also to react to the processes of the Latvian economy. Therefore, our clients find a legal environment in Latvia that is similar to the one they experience elsewhere in Europe, but it still differs from the practices of other countries in several respects, due to being adjusted to the specific circumstances of the Latvian economy.
PwC team members have specialised in the different industries and have, therefore, a thorough understanding of not just VAT regulations but also our clients’ business activities.
The analysis of our client’s business activities allows us to offer comprehensive and customised solutions to all of our clients’ local, regional or global VAT issues. We offer our clients means to reduce their VAT burdens, to optimise their VAT cash flows, to find the most beneficial VAT treatment, consultation on administrative and declaration obligations, and ways to optimise their enterprise resource planning systems. PwC Latvia maintains a continuous dialogue with the Latvian authorities to discuss unclear provisions of the VAT Act.
Our key services:
- VAT cash flow planning
- VAT health check and analysis of business processes
- VAT registration
- services related to VAT returns, recapitulative statements and Intrastat declarations
- legislative compliance services, including company-specific trainings, VAT reclaims from foreign countries and VAT reclaims of domestic taxpayers
- web-based global information platform: Global VAT Online
- assistance in tax authority audits, preparing comments and appeals
- advisory services on VAT groups and cost-sharing groups
- advisory services on international VAT planning
- developing VAT-oriented logistics centre concepts
- providing support to service centres in indirect taxation
- advisory services on e-compliance, including electronic invoicing and archiving
- finding innovative, VAT-effective solutions (e.g.: transfers of business lines of banks, head office transactions, finance leases)
- preparing and filing ruling requests, advance ruling requests and requests for supervisory review
- participation in court proceedings, from first instance to the Latvian Supreme Court, and in cases brought before the European Court of Justice
- advising on the imminent amendments of the European VAT legislation serving as the basis for the latvian VAT system
- advising on matters related to the European Court of Justice’s authority to interpret EU VAT regulations
- review of operation and effectiveness of ERP systems from VAT perspectives.
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