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    Archived pages: 194 . Archive date: 2014-10.

  • Title: Valters Gencs - COMIENZO
    Descriptive info: .. EN.. LV.. LT.. SE.. FI.. DK.. NO.. DE.. FR.. RU.. EE.. NL.. ES.. IT.. COMIENZO.. EMPRESA.. CLIENTES.. SOCIEDADES.. TRANSACCIONES RECIENTES.. CONTACTOS.. NUESTRA EMPRESA.. ABOGADOS.. ABOGADOS EN LETONIA.. ABOGADOS EN LITUANIA.. ABOGADOS EN ESTONIA.. SERVICIOS.. SERVICIOS JURÍDICOS.. COMPRA Y VENTA DE EMPRESAS.. REGISTRO MERCANTIL EN LETONIA.. REGISTRO MERCANTIL EN LITUANIA.. REGISTRO MERCANTIL EN ESTONIA.. IMPUESTOS EN LETONIA.. IMPUESTOS EN LITUANIA.. IMPUESTOS EN ESTONIA.. INMIGRACIÓN Y ESTANCIA EN LETONIA.. INMIGRACIÓN Y ESTANCIA EN LITUANIA.. INMIGRACIÓN Y ESTANCIA EN ESTONIA.. SUCESIÓN DE EMPRESAS EN LETONIA.. SUCESIÓN DE EMPRESAS EN LITUANIA.. SUCESIÓN DE EMPRESAS EN ESTONIA.. PATENTES Y MARCAS DE FÁBRICA.. REGISTRO DE LAS PATENTES EN LETONIA.. REGISTRO DE LAS PATENTES EN LITUANIA.. REGISTRO DE LAS PATENTES EN ESTONIA.. REGISTRO DE LAS MARCAS DE FÁBRICA EN LETONIA.. REGISTRO DE LAS MARCAS DE FÁBRICA EN LITUANIA.. REGISTRO DE LAS MARCAS DE FÁBRICA EN ESTONIA.. REGISTRO DE LAS PATENTES Y LAS MARCAS DE FÁBRICA EUROPEAS.. PUBLICACIONES.. GUÍA DE NEGOCIOS.. MENSAJERO.. CARTAS.. IVA.. IVA EN LETONIA.. IVA EN LITUANIA.. IVA EN ESTONIA.. Riga.. Vilnius.. Tallinn.. Novedades de los impuestos en Países Bálticos.. Novedades jurídicas en Países Bálticos.. Acontecimientos.. 09.. 10.. 2014.. Real Estate Tax in Lithuania.. On the January 1, 2006 a Law on Real Estate Tax has entered into force.. The tax ranges from 0,3% to 3% and it is paid by real estates intended for certain purposes (administration, accommodation, trading, services, catering,.. 06.. Annual reports in Estonia.. Annual reports The length of a financial year is estimated to twelve months (one calendar year, unless provided otherwise).. There are several cases where the financial year may be shorter or longer than the previously mentioned term,.. 24.. 09.. Value-added Tax (VAT) in Latvia.. According to the law On Value-Added Tax , adopted in March 1995, VAT has to be charged on any supply of goods or services, on the import of goods, as well as on self -consumption.. Until June 30, 2012 VAT rates.. 15.. Corporate income tax in Estonia.. It is important to bear in mind that in Estonia in contrast to a number of European countries there is no systematic monthly corporate tax.. Instead a resident company shall pay income tax on profits distributed as dividends.. 11.. Social Insurance Payments (Social Tax) in Latvia.. The law On State Social Insurance , originally passed in 1998, sets out the application of mandatory statutory social insurance payments to salaries received by.. 08.. Personal income tax in Estonia.. Personal income tax is imposed on the income of a taxpayer from which deductions pursuant to Estonian tax legislations have been made.. The income tax shall be paid by natural persons and by employers who are natural persons.. 01.. General principles of taxation in Lithuania.. The Law on Tax Administration, originally adopted in 13 April 2004, sets out the general taxation principles in Lithuania.. This law sets basic concepts and regulations which must be observed in.. 28.. 08.. European Union actions for harmonising taxation in 2014.. European Union has not been a big player regarding taxation within member states.. EU has considered that taxation is something the states should be complying with by themselves.. The.. 30.. 07.. Upcoming Amendments to the Estonian Value Added Tax Act.. Changes regarding deductible VAT On the 3rd of July the President of the Republic of Estonia declared the amendments to the Estonian Value Added Tax Act (hereinafter the Act).. 20.. 06.. Lithuanian parliament grants more powers to tax collectors.. Lithuanian government has submitted Tax administration law amendment which increase control powers granted to Lithuanian tax authority.. After negotiations Parliament budget.. 17.. Lithuania signs double taxation treaties with countries in target territories list: UAE, Cyprus, Morocco, Kuwait, Turkmenistan.. On April 2014 Lithuanian president passed.. 03.. Changes in Estonian Value Added Tax Act.. On 20th of May 2014 the President of the Republic of Estonia Toomas Henrik Ilves proclaimed law (493 UA) for changing the current Value Added Tax Act with adding an annex to the VAT return.. 05.. Baltic Tax Card 2014: Corporate Income Tax Card in Latvia, Lithuania and Estonia.. Corporate Income Tax Rates in Baltics Country Standard rate Decreased rate Transfer of loses to next.. 04.. Corporate income tax in Latvia.. Taxpayers Corporate income tax is paid by: domestic companies residents; non-residents; permanent representative offices of non-residents that perform economic activity.. Taxable objects Corporate income tax is.. Our law firm in Latvia has been recommended as a TOP TIER firm in Tax by the Legal 500 EMEA 2014 edition.. About Legal 500: The hugely successfulLegal 500series of guides reviews.. 25.. 03.. Taxation of permanent establishments of non-residents in Estonia.. A resident of one country carrying on business in another other country generally will be subject to that country s income tax if it has a permanent.. 02.. LATVIA: PLAN TO SIGN CONVENTION BETWEEN REPUBLIC OF LATVIA AND REPUBLIC OF CYPRUS.. On February 6, 2014, in the meeting of Secretaries of the State, was announced the draft law, prepared by the Ministry of  ...   Civil Code of the Republic of Lithuania, the.. Non-traditional trademarks in Latvia.. Very basics of trademarks in Latvia When people thinking about trademarks most often they think about word trademarks such as Coca-Cola, Google, Facebook or graphical such us McDonald s yellow letter M or.. Guide on How to Buy and Sell Real Estate in Latvia, Lithuania and Estonia.. Multilaw has put together a Guide on How to Buy and Sell Real Estate As a result they have a compilation of more than 50.. Debt collection in Estonia.. Pre-trial.. Proceedingsincluding sending official notifications to the debtor and fulfilling all the necessary formalities before the an eventual trial is commenced.. Representation during trial.. In situation where the.. Amendments in the Insolvency Law of the Republic of Latvia.. On Thursday, 25 September, 2014 the Saeima of the Republic of Latvia has approved in the last reading amendments in the Insolvency Law.. According to approved amendments, in.. Free economic zones in Lithuania.. Relocating your business to another country or city is not only an excellent way to expand your company but it is also a great manner to reduce costs.. The most common question is: which country (or city) to choose? While.. Accounting and annual financial reporting in Latvia.. Accounting records According to laws, accounting records shall clearly display the transactions and financial results of a company, and it shall give a true and fair view of its financial.. Requirements for providing electronic money institution services in Estonia.. E-money institution can be registered as Limited Liability Company or Joint Stock Company.. The share capital of e-money institution has to be at.. 16.. Bankruptcy in Lithuania.. Insolvency of an enterprise means the state of an enterprise when it fails to settle with the creditor/creditors and the overdue liabilities/debts are in excess of over a half of the value of the assets on the enterprise's.. Requirements for providing electronic money institution services in Lithuania.. Electronic money institution in Lithuania shall receive a license according to the provisions of the Law on Electronic Money and Electronic.. Requirements for providing electronic money institution services in Latvia.. To provideelectronic money institution servicesLimited Liability Company or Joint Stock Company have to be registered in Latvia, with.. Dispute resolution method gaining popularity in Lithuania: Arbitration.. Arbitration is not a novelty way to resolve disputes, however in recent years it has been gaining momentum in Lithuania.. The main reason for this.. 18.. Major European gambling operators blacklisted in Latvia.. The Latvian gambling regulator has published its first blacklist of 20 gambling domains including PokerStars, bet365 and 888 in an attempt to restrict the grey market in the Baltic.. 12.. Interview with trainee: Finnish lawyer Tony Koivula.. He joined our office in Tallinn to gain insight into Financial and Banking law in Estonia, Latvia and Lithuania.. Amendments in the Commercial law of Latvia: Denomination of the share capital.. According to amendments in the Commercial law of Latvia from July 1, 2014 the company can register any amendments in the Articles of.. Our lawyer in Vilnius attended Nordic-Baltic Midsummer celebration organised by Chambers of Commerce.. On June 19, the Nordic and Baltic Embassies together with their Chambers of Commerce celebrated.. Amendments to the Civil Code of the Republic of Lithuania: More obligations for the trader to inform the customer about the conditions of the contract.. In.. The Law on Euro adoption in the Republic of Lithuania.. Lithuanian Parliament has recently voted in favour of acceptance of the Law on Euro adoption in the Republic of Lithuania (hereinafter the Law).. The Law will establish the.. Our lawyers attended L'Oréal and UNESCO Award ceremony for Women in Science in Latvia.. Gencs Valters Law Firm representative Gunda Leite attended our client L'Oréal and UNESCO Award ceremony for.. Amendments to the Commercial law of Latvia: Opportunity to pay out dividends several times a year.. Extraordinary dividends According to amendments in the Commercial law of Latvia as of 01.. 2014 will be.. Interview with trainee: Spanish lawyer Eduardo Nadal de Olivares.. He joined our law firm to gain knowledge in Trade Regulation and Commercial Law in Baltic states.. Latest updates on immigration and residency in Latvia.. European Union citizens EU citizens have the right to stay in Latvia on the basis of a valid travel document for the period of up to 3 months within half a year counting from.. Our lawyer meets representatives from the Spanish Embassy in Latvia and the Economic and Commercial Office of the Spanish Embassy in Lithuania to discuss company setup in Latvia, Estonia and Lithuania.. 01.. Immigration and residency in Baltics - Latvia, Lithuania and Estonia.. IMMIGRATION AND RESIDENCY IN LATVIA European Union citizens EU citizens have the right to stay in Latvia on the basis of a valid travel document for.. For questions, please, contact Valters Gencs, attorney at law at.. info@gencs.. eu.. The material contained here is not to be construed as legal advice or opinion.. Gencs Valters Law Firm, 2012..

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  • Title: Valters Gencs - ABOGADOS EN LETONIA
    Descriptive info: ABOGADOS EN PAÍSES BÁLTICOS.. Valters Gencs.. Gunda Leite.. Sanita Laiveniece.. Eva Narovska.. Baiba Āboliņa - Viljama.. Gita Bičole.. Eduards Dzintars.. Andrius Apanavicius.. Jovita Valatkaite.. Kati Kruut.. Abogado Letonia.. Abogado Estonia.. Abogado Lituania.. Áreas de Práctica.. Fiscalidad en Letonia, Lituania, Estonia.. Fusiones y Adquisiciones (M A ) en Letonia, Lituania , Estonia.. Litigios Contencioso en Letonia , Lituania y Estonia.. Patentes y Marcas en Letonia , Lituania y Estonia.. Idiomas.. Inglés, Letón y Ruso.. Contacto.. valters.. gencs@gencs.. Tel.. +371 67 24 00 90.. Educación y Formación.. Facultad de Derecho de la Universidad de Letonia (Licenciatura - 1993), Instituto de Asuntos Internacionales (Derecho internacional de los negocios, 1994),Ganador de la beca Senador Edmund F.. Muskie EE.. UU, 1994 , John Marshall Law School , Chicago, IL , EE.. UU, (LL.. M.. , 1995).. Experiencia laboral.. Asesor Jurídico del Ministerio de Relaciones Exteriores de Letonia (1994) , Welsh Katz, Ltd.. , Chicago (1995) , miembro del Grupo de Trabajo sobre el Derecho Tributario  ...   ) , fundador de la firma de abogados Gencs Valters (2000), profesor de la Stockholm School of Economics en Riga (2000) y Presidente de la Cámara de Comercio de Noruega en Letonia 2008 -2011.. Publicaciones.. Fiscalidad Europea, 2007 (IBFD), Cambios en los impuestos internacionales de ingresos en Letonia, corresponsal de Letonia en Estados Unidos como análista de impuestos, BNA Informe Mundial de la Propiedad Intelectual , Acuerdo de Madrid relativo al Registro Internacional de Marcas en Letonia; miembro de la EIPR Asociación Internacional de Abogados, 1997.. Asociaciones profesionales.. Abogado en Letonia, Colegio de Abogados de Letonia, Abogado en Estonia, Colegio de Abogados de Estonia, Abogado en Lituania , Colegio de Abogados de Lituania , Asociación Internacional de Abogados, Consejo de Inversores Extranjeros, AIPLA; FICPI, ECTA; AIPPI; LES USA CANADA; ITMA; INTA; MARQUES, GRUR, Asociación Internacional de Planificación Fiscal , Abogado de patentes, marcas y diseños en Estonia, Letonia y Lituania, Asociación Letona de Patentes y Marcas.. Martindale-Hubbell PremierPartner Profile.. (pdf)..

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  • Title: Valters Gencs - ABOGADOS EN LITUANIA
    Descriptive info: Andrius Apanavičius.. Registro de empresa en Letonia , Lituania , Estonia.. Fusiones y Adquisiciones en Letonia, Lituania y Estonia.. Acuerdos y leyes de contratos en Letonia , Lituania y Estonia.. Registro del IVA en Letonia , Lituania , Estonia.. Patentes y Derecho de Marcas en Letonia , Lituania , Estonia.. Ley de Propiedad en Letonia , Lituania y Estonia.. Ley de Inmigración en Letonia , Lituania y Estonia.. Derecho y Práctica civil en Letonia , Lituania y Estonia.. Derecho Administrativo en Letonia , Lituania y Estonia.. Banca y Finanzas de Letonia , Lituania y Estonia.. Derecho de transportes en Estonia , Letonia y Lituania.. Jurisdicción y Conflictos de  ...   Abertay Dundee , Escocia, (Licenciatura en Derecho mercantil europeo 2007).. Escuela internacional de Derecho y Negocios , Lituania (Estudios de Derecho mercantil y de la empresa , 2006).. Abogado en el Ministerio de Transporte de la República de Lituania (2012).. Abogado asociado en la firma de abogados Vadapalas , Vaitekūns partneriai Eurolex (2008-2011).. Abogado en el banco Medicinos lizingas (2005).. Abogado en el banco Medicinos (2004).. Inglés, Ruso, Lituano.. Getting the Deal Through (Real Estate 2010).. Despacho de Abogados Gencs Valters en Vilnius, Lituania.. Vilniaus vartai, 3rd floor, A.. Tumėno street 4,.. LT-01109 Vilnius, Lithuania.. T: +370 52 61 10 00.. F: +370 52 61 11 00.. andrius.. apanavicius@gencs..

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  • Title: Valters Gencs - ABOGADOS EN ESTONIA
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  • Title: Valters Gencs - SERVICIOS JURÍDICOS
    Descriptive info: Nuestra firma de abogados ofrece servicios legales en Letonia, Lituania y Estonia en las siguientes.. á.. reas de pr.. ctica:.. Derecho administrative en Letonia, Lituania y Estonia.. Derecho marítimo en Letonia, Lituania y Estonia.. Derecho publicitario y Marketing en Letonia, Lituania y Estonia.. Agencia y Distribución en Letonia, Lituania y Estonia.. Derecho sobre bebidas alcohólicas en Letonia, Lituania y Estonia.. Mecanismos alternativos de resolución de conflictos en Letonia, Lituania y Estonia.. Derecho de la competencia en Letonia, Lituania y Estonia.. Derecho de protección de animales en Letonia, Lituania y Estonia.. Derecho de la agricultura en Letonia, Lituania y Estonia.. Derecho de la regulación del comercio en Letonia, Lituania y Estonia.. Derecho de apelaciones en Letonia, Lituania y Estonia.. Derecho de protección de los activos en Letonia, Lituania y Estonia.. Derecho aeronáutico y de la Aviación en Letonia, Lituania y Estonia.. Derecho bancario en Letonia, Lituania y Estonia.. Derecho concursal y de quiebra en Letonia, Lituania y Estonia.. Derecho biotecnológico en Letonia, Lituania y Estonia.. Derecho de los negocios en Letonia, Lituania y Estonia.. Derecho del juego, aapuestas y de los casinos en Letonia, Lituania y Estonia.. Derecho civil en Letonia, Lituania y Estonia.. Demandas colectivas en Letonia, Lituania y Estonia.. Derecho mercantil en Letonia, Lituania y Estonia.. Derecho del mercado urbanistico e inmobiliario en Letonia, Lituania y Estonia.. Derecho de las materias primas en Letonia, Lituania y Estonia.. Derecho de las comunicacion y de los medios de comunicacion en Letonia, Lituania y Estonia.. Derecho informático y de las nuevas tecnólogias en Letonia, Lituania y Estonia.. Derecho inmobiliario en Letonia, Lituania y Estonia.. Derecho contractual en Letonia, Lituania y Estonia.. Derechos de autor en Letonia, Lituania y Estonia.. Derecho de la empresa en Letonia, Lituania y Estonia.. Derecho penal en Letonia, Lituania y Estonia.. Derecho crediticio y de deuda en Letonia, Lituania y Estonia.. Derecho de las drogas y de sustancias dopaantes en Letonia, Lituania y Estonia.. Derecho de la educación en Letonia, Lituania y Estonia.. Derecho de la ancianidad en Letonia, Lituania y Estonia.. Derecho politico, de las elecciones y de las campañas políticas en Letonia, Lituania y Estonia.. Derecho de la expropiación en Letonia, Lituania y Estonia.. Derecho de los beneficios laborales en Letonia, Lituania y Estonia.. Derecho de la energía en Letonia, Lituania y Estonia.. Derecho del entretenimiento y espectaculo en Letonia, Lituania y Estonia.. Derecho medioambiental en Letonia, Lituania y Estonia.. Derecho de leasing y de las finanzas colectivas en Letonia, Lituania y Estonia.. Derecho de familia en Letonia, Lituania y Estonia.. Derecho financier en Letonia, Lituania y Estonia.. Derecho de las franquicias en Letonia, Lituania y Estonia.. Derecho de fraude y de estafa en Letonia, Lituania y Estonia.. Derecho de practica general en Letonia, Lituania y Estonia.. Derecho del gobierno en Letonia, Lituania y Estonia.. Derecho de los contratos gubernamentales en Letonia, Lituania y Estonia.. Derecho de tutela y custodia en Letonia, Lituania y Estonia.. Derecho sanitario en Letonia, Lituania y Estonia.. Derecho de hospital en Letonia, Lituania y Estonia.. Regulacion de la vivienda en Letonia, Lituania y Estonia.. Derecho de la inmigración en Letonia, Lituania y Estonia.. Derecho de los seguros en Letonia, Lituania y Estonia.. Derecho de los seguros de defensa military en Letonia, Lituania y Estonia.. Derecho de la propiedad intellectual en Letonia, Lituania y Estonia.. Derecho internacional en Letonia, Lituania y Estonia.. Derecho del comercio internacional en Letonia, Lituania y Estonia.. Derecho de Internet en Letonia, Lituania y Estonia.. Derecho  ...   Lituania y Estonia.. Derecho ferroviario en Letonia, Lituania y Estonia.. Derecho urbanístico en Letonia, Lituania y Estonia.. Derecho regulatorio en Letonia, Lituania y Estonia.. Derecho bursátil en Letonia, Lituania y Estonia.. Derecho de la Seguridad Social (S.. S) en Letonia, Lituania y Estonia.. Derecho deportivo en Letonia, Lituania y Estonia.. Derecho fiscal y tributario en Letonia, Lituania y Estonia.. Derecho tecnologico y de las Ciencias en Letonia, Lituania y Estonia.. Derecho de responsabilidad civil (daños, perjuicios, agravios etc) en Letonia, Lituania y Estonia.. Derecho de los perjuicios y agravios toxicos en Letonia, Lituania y Estonia.. Derecho del secreto commercial en Letonia, Lituania y Estonia.. Derecho de marcas en Letonia, Lituania y Estonia.. Derecho de los transportes en Letonia, Lituania y Estonia.. Derecho fiduciario e inmobiliario en Letonia, Lituania y Estonia.. Derecho de la competencia desleal en Letonia, Lituania y Estonia.. Delitos de la Administración Pública en Letonia, Lituania y Estonia.. Derecho sucesorio y testamentario en Letonia, Lituania y Estonia.. Compensaciones e Indemnizaciones laborales en Letonia, Lituania y Estonia.. Derecho del planeamiento y uso urbanístico en Letonia, Lituania y Estonia.. Derecho de los mercados en Letonia, Lituania y Estonia.. Derecho laboral en Letonia, Lituania y Estonia.. Derecho de las nuevas tecnólogias en Letonia, Lituania y Estonia.. Subcontrataciones en Letonia, Lituania y Estonia.. Derecho de quiebra en Letonia, Lituania y Estonia.. Derecho de reestructuración/saneamiento en Letonia, Lituania y Estonia.. Derecho de fondos de pensiones en Letonia, Lituania y Estonia.. Derecho portuario en Letonia, Lituania y Estonia.. Derecho de transportes en Letonia, Lituania y Estonia.. Capital riesgo/Capital inversion en Letonia, Lituania y Estonia.. Derecho de las telecomunicaciones en Letonia, Lituania y Estonia.. Declaraciones de las finanzas estructuradas en Letonia, Lituania y Estonia.. Derecho de las acciones y valores bursatiles en Letonia, Lituania y Estonia.. Derecho de la rentas fisicas en Letonia, Lituania y Estonia.. Tributaciones de empresa en Letonia, Lituania y Estonia.. IVA (Impuesto sobre el Valor Añadido) en Letonia, Lituania y Estonia.. Inscripciones del IVA en Letonia, Lituania y Estonia.. Representaciones del IVA en Letonia, Lituania y Estonia.. Registro del IVA en Letonia, Lituania y Estonia.. Representaciones fiscales del IVA en Letonia, Lituania y Estonia.. Representaciones tributarias del IVA en Letonia, Lituania y Estonia.. Tratados de doble tributación en Letonia, Lituania y Estonia.. Grupos empresariales en Letonia, Lituania y Estonia.. Tributacion de dividendos en Letonia, Lituania y Estonia.. Tributacion de los beneficios en Letonia, Lituania y Estonia.. Tributacion de los establecimientos mercantiles permanents en Letonia, Lituania y Estonia.. Servicios fiscales independientes en Letonia, Lituania y Estonia.. Servicios fiscales dependientes en Letonia, Lituania y Estonia.. Tributacion de intereses en Letonia, Lituania y Estonia.. Tributacion de los beneficios de negocio en Letonia, Lituania y Estonia.. Tributacion de los inmuebles fijos en Letonia, Lituania y Estonia.. Tributacion de los ingresos en Letonia, Lituania y Estonia.. Tributacion del capital en Letonia, Lituania y Estonia.. Derecho anti-discriminatorio en Letonia, Lituania y Estonia.. Intercambios de informacion fiscal en Letonia, Lituania y Estonia.. Modelos fiscales de la OCDE en Letonia, Lituania y Estonia.. Despido y reduccion de empleados en Letonia, Lituania y Estonia.. Reduccion y despido (colectivo) de personal (ERE) en Letonia, Lituania y Estonia.. Ganancias de capital en Letonia, Lituania y Estonia.. Derecho de opcion de compra en Letonia, Lituania y Estonia.. Establecimiento de empresas en Letonia, Lituania y Estonia.. Creacion de empresass en Letonia, Lituania y Estonia.. Incorporacion (y seguimiento) de empresas en Letonia, Lituania y Estonia.. Registro de empresas en Letonia, Lituania y Estonia..

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  • Title: Valters Gencs - Novedades de los impuestos en Países Bálticos
    Descriptive info: Letonia.. Estonia..

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  • Title: Valters Gencs - Novedades jurídicas en Países Bálticos
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  • Title: Valters Gencs - Acontecimientos
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  • Title: Valters Gencs - Real Estate Tax in Lithuania
    Descriptive info: 9 October 2014.. The tax ranges from 0,3% to 3% and it is paid by real estates intended for certain purposes (administration, accommodation, trading, services, catering, transportation, manufacturing, industrial, warehouse, medical services and sports).. According to it, real estate used by individuals for busi ness or individual activities with several ex ceptions or disposed to the legal persons for the period longer than 1 month the real estate must pay tax.. The council of the municipality on the territory where buildings and structures are located determines the exact rate of the tax.. If a natural person  ...   real estate property tax.. Lithuanian and foreign entities owning buildings and structures located in Lithua nia are obliged to pay real estate tax as they did before the January 1, 2006.. Legal entities, as opposed to in dividuals, should pay advance installments on a quarterly basis.. Both individuals and legal entities should provide an annual real estate tax return to the State tax authorities not later than 1 February of the next year.. Andrius Apanavičius, lawyer of the Gencs Valters Law Firm in Vilnius.. Practising in fields of Real Estate Tax in Latvia, Lithuania and Estonia..

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  • Title: Valters Gencs - Annual reports in Estonia
    Descriptive info: 6 October 2014.. Annual reports.. The length of a financial year is estimated to twelve months (one calendar year, unless provided otherwise).. There are several cases where the financial year may be shorter or longer than the previously mentioned term, yet it shall not exceed eighteen month.. At the end of each financial year an accounting entity is required to prepare an annual report that consists of the annual accounts and the management report.. To the annual report shall also be annexed the auditor s report and, in the case of a company, the profit distribution proposal for the financial year at hand.. Still if there is no auditing requirement, adding the auditor s report is not compulsory.. Preparation and submission of annual reports includes following aspects:.. Preparation of annual accounts;.. Preparation of management report;.. Approval of the annual report.. Auditing (in case provided by law);.. Preparation of the profit distribution proposal for the financial year (in case of a company);.. Submission of the annual report for approval.. Following is the list of important criteria for an accounting entity to be audited:.. Audit of the annual accounts is compulsory for accounting entities within the meaning of the Accounting Act if following indicators are fulfilled at least by two thirds.. 1.. Sales revenue or income 2 000 000 EUR;.. 2.. Total assets as of the balance sheet date 1 000 000 EUR;.. 3.. Average number of employees 15 people.. A review is compulsory in whose annual accounts at least one of the indicators of the financial year exceeds the following conditions:.. Sales revenue or income 1 000 000 EUR;.. Total assets as of the balance sheet date 500 000 EUR;.. A private limited liability company shall have an auditor if auditing is prescribed by law or the articles of association;.. The law prescribes the obligation for public limited liability company to be audited whereas the number of auditors and their appointment lies on the shoulders of general meeting;.. In order to give a true and fair view of the financial situation, economic performance and cash flows of the accounting entity the annual accounts shall be prepared.. Following statements shall be comprised:.. Balance sheet;.. Income;.. Cash flow;.. Changes in the owners equity.. The annual accounts shall be prepared on the basis of the business transactions and adjusting entries recorded in the journals and ledgers during the financial year.. For the purpose of preparation  ...   are registered for trading on a stock market.. The annual report of an accounting entity shall be signed and dated by the members of the management and the members of the highest supervisory body (if that body exists) immediately after the relevant body has approved the report.. The final signed annual report shall be submitted by the 30.. th.. of June of the following year.. Annual Reports of Consolidation Groups.. Estonian legislation defines.. consolidating entity.. as a parent undertaking or any other accounting entity exercising dominant influence over another accounting entity (consolidated entity).. Following are examples of often occurring dominant influence:.. A holding of more than 50% of the voting rights belonging to the consolidated entity;.. A direct or indirect right arising from law or a contract to appoint or remove a majority.. Thus consolidation means joining of the financial statements of different accounting entities in order to provide a.. united annual report.. as if companies in question were one single entity.. The accounting of consolidation groups generally follows the traditional accounting lead as the provisions of the legislation have only a few minor differences.. Yet what should be mentioned are situations where consolidating entities are not required to prepare an annual report of the consolidation group:.. A company where at least 90% of the votes represented by shares belong to a consolidating entity which is registered in Estonia and has the obligation to prepare and disclose the audited annual report of the consolidation group;.. A company where at least 90% of the votes represented by shares belong to a consolidating entity which is registered in a Contracting State and has the obligation to prepare and disclose the audited annual report of the consolidation group under the law of its home state;.. A consolidating entity if at the balance sheet date of the accounting year, the entity does not exceed the limits of two of the three following consolidated criteria:.. A consolidating entity if the total amount of the balance sheet totals of each of the consolidated entities added together does not exceed 5% of the balance sheet total of the consolidating entity and if its sales revenue does not exceed 5 per cent of the sales revenue of the consolidating entity;.. Kati Kruut, lawyer of the Gencs Valters Law Firm in Tallinn.. Practising in fields of Asset protection Law.. T: +372 61 91 000.. F: +372 61 91 007.. kati.. kruut@gencs..

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  • Title: Valters Gencs - Value-added Tax (VAT) in Latvia
    Descriptive info: 24 September 2014.. According to the law.. On Value-Added Tax , adopted in March 1995, VAT has to be charged on any supply of goods or services, on the import of goods, as well as on self -consumption.. Until June 30, 2012 VAT rates were 22%, 12% and 0%.. Staring from July 1, 2012 VAT rate are 21%, 12%, 0%.. The supply of goods is the transfer of their ownership to another entity so entitling the latter to dispose of the transferred possession.. The first sale after completion of the construction of a building is also regarded as the supply of goods.. The supply of services is a transaction based on activities carried out by an entity for a consideration.. They include the activities of self-employed individuals, the transfer (sale) of any obligations, rights or intangible assets, obligations to refrain from activities or to accept any activity, as well as the lease of goods.. Personal (self)-consumption is the supply of one's own goods and services to an entrepreneur, his family members, employees or other persons free of charge.. VAT rate.. General VAT rate is 21%.. The reduced VAT rate 12% applies to supplies to medicaments and medical devices, to supplies of specialized products intended for infants, to inland public transport services ( carriage of passengers and luggage in trams, trolley buses, city, district and long-distance busses, and inland and international trains, as well as inland flights), to supply of heating to inhabitants, to supply of electricity to inhabitants, to supply of natural gas to inhabitants, except for natural gas for motor vehicles.. Input and output VAT.. The VAT system is based on the principle that the tax burden should be borne by the final consumer and is neutral to businesses.. VAT taxpayers are entitled to deduct the tax paid on their supplies (input VAT) from the tax which they charge their customers (output VAT), if those incoming supplies ensure the entrepreneurial activity of the taxpayer.. The tax sums for the received goods or services set in the invoices may be deducted after the reception of the goods or services and the invoice or after the advance payment of the tax set in the invoice.. Input VAT may be deducted on accrual bases without a payment of invoices for both goods and services.. Entities whose sales, excluding exempted sales, exceed 50000 Euro within a 12-month period are obliged, within the following 30 days, to register as VAT payers with the tax authority.. VAT payer has rights to deduct VAT which was paid before VAT registration certificate was received.. There are few exceptions for deducting VAT for company recently registered as the VAT payer.. It is not allowed to deduct administration expenses (office rent, telecommunication expenses, fuel, transport rent), if goods are bought more then 12 month before registration as the VAT payer or services are received 3 month before registration as the VAT payer.. Mandatory VAT registration.. The law stipulates occasions when EU companies have to register as VAT payers in Latvia:.. If an EU-registered VAT payer supplies goods to a Latvian entity not registered as a VAT payer and that supply exceeds 35000 Euro within a 12 month period;.. Regardless of amount, if a recipient is non VAT registered person and the excised goods are to be supplied or goods are to be installed in Latvia;.. If the services provided are related to culture, art, education, science, sport or real estate regardless of the amount;.. If the provided services relate to warehousing, transportation of goods or relate to movable property (such as repair, assessment, maintenance), except leasing services.. Real estate.. If a real estate (or any part thereof) is sold or put into operation within 10 years of the date of purchase, part of the VAT deducted at the time of purchase must be repaid to the government.. The amount is calculated as 1/10 of the deducted input tax multiplied by the number of years remaining until the end of said 10 year period (from the date of purchase or placement in to operation).. This repayable input tax amount is included in the value of the real estate, and a buyer shall not be entitled to deduct it as input tax.. VAT paid on goods and services purchased for the construction and repair of buildings is deductible.. VAT deductions do not apply to VAT paid on the construction of facilities used for VAT-exempt businesses or community infrastructure, such as apartment buildings, sports, medical and educational facilities, if the community facilities do not relate directly to the commercial activities of the company.. Any VAT deducted shall be repaid to the state if the real  ...   divided by all transaction exempt from VAT.. If proportion (including exempt transactions) is changed within a year, adjustment of the VAT deductible shall be made.. Pricing.. If systematically and continually price is charged to buyer below commercially substantiated level, at the end of a taxation year additional VAT shall be charged on the omitted difference, except discounts.. Intra community acquisitions.. If a Latvian-registered VAT payer receives goods from an EU-registered VAT payer, they have to show VAT as payable and deductible in their VAT declaration, based on the invoice received.. If a Latvian non-VAT-registered entity receives goods from an EU-registered VAT payer, and the total value of the goods received exceeds 10000 Euro, the Latvian entity have to register as a VAT payer in Latvia.. Fiscal representatives.. Changes to the VAT law, effective May 1, 2004, introduce the concept of VAT fiscal representatives.. If the responsibility for VAT payment lies with a fiscal representative, it is mandatory that the Latvian VAT registration number, name and registered address of the VAT representative are mentioned in VAT invoices.. In addition, VAT invoices must include the following items:.. Date and number of invoice.. Supplier s and recipient s names, addresses and VAT numbers.. Date of supply.. Type of goods or services and quantity supplied.. Prices and applicable discounts.. VAT rate and amount plus cost of goods without VAT.. If 0% rate is applied or responsibility of tax payment is on the recipient of the goods or services reference to a respective article of VAT law on which zero rate is based, the same is true for fiscal representatives.. Non-EU persons (for example, US companies) may register via fiscal representation in any EU country based on local rules as VAT payer.. Use of the registration number in Latvia will be accepted for VAT zero export on triangle transactions as described below.. Triangle supplies.. There is a seller, a broker and a buyer in triangle transaction.. All the persons mentioned before shall be VAT registered in different EU countries.. Goods ought to be supplied upon instructions of the broker to the buyer.. Invoices issued by the brokers will be subject to VAT 0%, if recipient of goods is VAT registered person.. Zero-rated supplies and exemptions.. Pursuant to the law, the following groups of supplies and services are subject to the 0% VAT rate:.. export of goods if documents show that the goods have been transported outside the EU.. services which are related to export of goods outside the EU.. services which are defined as not supplied within Latvia.. goods and services related to the maintenance and service of international transportation.. certain tourism services.. on the basis of reciprocity, services and goods related to diplomatic and consular officers enjoying immunity.. certain services, if the recipient is a non-resident, such as assignment, transfer or grant of intellectual property rights; services related to advertising and public relations; legal, accounting, audit, consulting, interpretation, expert, engineering, market research, and management services, services of patent offices; data processing; exchange of know-how, supply of information; supply of staff, except education and training services; leasing except real estate and vehicles; telecommunication services; broker agency services.. A number of goods and services are exempt from VAT, e.. g.. certain services with an educational value or cultural function, the sale of shares and not-newly constructed real estate, lotteries as well as land.. The 0% VAT rate for intra-community supplies is applied if the recipient of goods is an EU entity which is registered with its home country s VAT register and transport documents demonstrate that the goods were actually delivered.. The 0% rate is also applied to intermediaries who re-sell goods to end consumers within EU countries.. Reports on such intra-EU supplies must be submitted to tax authorities quarterly.. Administration.. VAT owed to the government must be paid on a monthly basis by the 15.. day of the following month or, with the agreement of tax authorities, by the 25.. day of the following month for companies with multiple branches.. Monthly VAT returns are also required to be filed.. The annual VAT declaration is due no later than by May 1 of the following year.. Penalties.. Penalties for breach of the VAT law are 100% in amount of 100% the tax not paid.. Penalty applies also to increase of claims for VAT refund and amounts which refer to the next VAT period (month), for example, VAT deduction is made before a term.. Valters Gencs, founding partner and lawyer of the Gencs Valters Law Firm in Riga.. Practising in fields of Value-added tax (VAT) in Latvia, Estonia, Lithuania.. T: +371 67 24 00 90.. F: +371 67 24 00 91..

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