New EU financial instruments in support of member states economies

The European Commission has provided member states with the flexibility to financially support health care systems, businesses and societies in general. The EC has pledged that every available euro in the EU budget will be redirected to address it, every rule will be eased to enable the funding to flow rapidly and effectively. With a new Read more

A special Commercial secret protection law adopted in Latvia

In the era of rapid development of information technologies and manufacturing, constantly increasing investments in scientific researches and innovations, the issue of legal protection of commercial secrets (such as technologies, expertise and information) has become more essential than ever. In order to improve national regulatory enactments in this area, on 28 February 2019 Latvia’s Parliament Read more

Corporate Income Tax in Latvia. Is it 20% or 0%?

Effective 1 January 2018 companies in Latvia are subject to Corporate Income Tax (CIT) only on their profits that are distributed (or deemed distributed). The undistributed profits are not taxed. So does it mean that Latvian CIT is 0%?  Corporate income tax rate is 20%.  However, certain expenses deemed to be taxable similar to profit Read more

Latvia continues State-Owned Enterprise governance reform

TRINITI Riga partner continues active support to the State-Owned Enterprise governance reform in Latvia. On 29 May 2014 he represented the Latvian Chamber of Commerce and Industry at the meeting with  an international expert team working on the evaluation of Latvia under the OECD Guidelines on Corporate Governance of State-Owned Enterprises (OECD SOE Guidelines). Read more

Russia takes new steps towards “deoffshorization”

Following Russian President’s request to the government to take measures that would discourage the use of offshore companies, a new draft law has been published in mid-March suggesting changes to the Russian Tax Code. Below please find detailed review of the draft law kindly provided by our co-operation partner in Russia – law firm ALRUD. Read more