InvestorsSIA_photo-1474631245212-32dc3c8310c6

Did you know that there is one important thing that many forget?

Pursuant to Section 15 (3) of the Law “On Taxes and Duties” taxpayers have an obligation to submit informative declarations and notifications to the State Revenue Service (SRS). Notification and information declarations must be submitted by natural persons, if they are employers, and commercial companies, cooperatives and other legal entities governed by private law regarding:

• changes in registration data;

• all individual cash transactions performed during the previous month (including any purchases) which exceed EUR 1500;

• all cash transactions carried out during the previous year with such natural persons which need not register their economic activity in accordance with the provisions of the laws and regulations governing tax matters, the amount of a single transaction exceeds EUR 3000;

• on leasing and credit payments made by a natural person – a resident of the Republic of Latvia or just leasing or just credit and related interest payments, the amount of which in a month exceeds EUR 360 or the sum total of such contributions in a calendar year exceeds EUR 4320;

• on-call deposit accounts opened abroad within 30 days after opening thereof.

In accordance with the Law “On Personal Income Tax” there is an obligation to report to the SRS on loans, the amount of which exceeds EUR 15 000, or regarding loans the amount of which does not exceed EUR 15 000 in a pre-taxation year, but together with a loan issued in a taxation year it exceeds EUR 15 000.

If you have any kind of issues to be solved in accounting, the aforementioned or any other, where you need help, including and not only in setting up and maintaining the accounting system on a daily basis – the team of the accounting firm Investors will hurry to help you! Contact us right here on our website!

Comments are closed.