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The authority of State Revenue service (SRS) is increased

19 January 2016
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state revenue service taxes and fees in Latvia, tax consulting in Latvia, tax consultant in Latvia, tax adviser in Latvia The SRS has the power to determine taxable object that is decreased with taxes and fees on the basis of statement and levy fine in the amount of 100 %, if it is established that tax payer uses cash register, hybrid cash register, cash register’s system or other device with changed construction or programme and it is not possible to determine the time period in which the taxable object is decreased or hide.


state revenue service taxes and fees in Latvia, tax consulting in Latvia, tax consultant in Latvia, tax adviser in Latvia If the infringement will be revealed repeatedly, the taxpayer’s commercial activities might get suspended without previous warning. The SRS has the power to forbid taxpayer to dispose assets, reorganize the company, liquidate the company and change board members, if the SRS has warned the company about infringement or possible infringement made by the company and has given a time for terminate the infringement. Also, starting from July 1st, 2016 those enforcement measures shall be applicable before or during administrative control procedure (audit). The SRS informs the Commercial register about the intention to make the control procedure (audit) in the company and any changes in company won’t be done without SRS permission.

Starting from April 1st, 2016 the credit institutions are obliged to inform SRS about their client’s possible infringements or suspicious transactions.

 

Should you wish our assistance regarding taxation please contact our English speaking tax consultants in Latvia at info@gencs.eu.

 

T: +371 67240090

F: +371 67240091

info@gencs.eu

www.attorneys-at-law.eu

www.lavvocato.eu

For questions, please, contact Valters Gencs, attorney at law at info@gencs.eu


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The material contained here is not to be construed as legal advice or opinion.

© Gencs Valters Law Firm, 2016
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