Our latest webinar in Connect with AmCham series on February 18th organized in cooperation with our member Sorainen focused on the tax update for 2021. The webinar served as a practical guide for employers and included presentations of legal experts Dace Everte, Senior Associate (Tax & Customs) and Aina Oksenuka, Associate (Tax & Customs) and on the most up-to-date tax issues. Janis Taukacs, Partner of Sorainen introduced members with the most demanded services provided by Sorainen and a progressive personal income tax system. He explained that changes introduced by the government are aimed at eliminating alternative tax regimes for micro-enterprises and the self-employed.

Aina Oksenuka gave a short overview about latest news related to share options for private limited-liability companies. She also touched upon updated list of low tax and zero tax countries and recent amendments concerning the personal income tax and state mandatory social insurance contributions.

Dace Everte explained that significant changes on imposing VAT to e-commerce transactions had to become effective as of 1 January 2021.  However, the European Commission suggested postponing implementation of the planned amendments until 1 July 2021 due to COVID-19, for the EU Member States and e-merchants to have more time to get ready for the change.

The goal of those changes is to simplify VAT conditions for e-merchants who sell goods or services internationally to final consumers and to ensure that VAT imposed on these transactions is paid in the EU Member State where the customer is located. 

Connect with AmCham webinars aim to share knowledge of our members, as we navigate through the COVID-19 crisis.

If you would like to share best practices in your area of expertise that could be helpful for the international business community, we are here to listen and learn from you! Please contact Evija Gleske, Program & Design manager, evija.gleske@amcham.lv. 

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