Financial Stability Fee Law

Original Language Title: Finanšu stabilitātes nodevas likums

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/223539

The Saeima has adopted and the President promulgated the following laws: financial stability fee law article 1. Fees financial stability objective financial stability fee (fee) aims to strengthen the financial system to finance, if necessary, measures to ease the financial difficulties of the negative impact of credit to other financial market participants, as well as partially compensate for State budget funds that were redirected to the stabilisation measures in the financial sector, of which directly or indirectly benefited the banking sector as a whole.
2. article. The parties liable for the fee shall be paid in the Republic of Latvia registered credit institutions (except the electronic money institutions) and their branches in Member States and in foreign countries, as well as Member States and abroad branches of credit institutions registered in the Republic of Latvia (hereinafter payer of the fee).
3. article. Tax period fees taxation period is the calendar year.
4. article. Fees and rate (1) fees fees taxable object total liabilities at the end of the tax period from which the report: 1) deposits subject to the Republic of Latvia or another Member State of the deposit-guarantee scheme;
2) fees taxable debt mortgage debentures;
3) subordinated liabilities included in the calculation of equity capital as subordinated capital in accordance with the financial and capital market Commission rules.
(2) duty rate is percent per year from 0.036 referred to in the first paragraph.
5. article. The calculation of the fee and payment procedure (1) the payment of the fee during the tax period is divided into quarters, each quarter, paying one-fourth of the estimated payment.
(2) the fee calculated in accordance with article 4 of this Act and paid into the Treasury in specified State budget revenue account of the reporting quarter in the following month's 15th date of dues payers, submit the financial and capital market Commission supporting documents of payment.
(3) the fee payer of the tax period quarterly payment of the fee shall be calculated on the basis of the previous tax period annual report financial statements included in the data, the previous tax period end indicated total liabilities adjusted in accordance with article 4 of this law, the first paragraph and the calculated payment amount proportionally distributed over the quarter and the quarterly fee payment schedule.
(4) the fee payer of the tax period fees quarterly payment schedule up to the taxation period 15 April into line with the financial and capital market Commission.
(5) If it is established that the review quarter the amount of the fee paid is less than the amount payable under the fourth paragraph of this article, the fees referred to in the quarterly payment schedule or in the statutory rate, paying the levy within 30 days after the receipt of the financial and capital market Commission's calculation, be paid into the State Treasury at the specified State budget revenue account remaining dues amount.
(6) the fees the Bill until the next tax period 15 April shall draw up and submit to the financial and capital market Commission, the financial stability of the levy of the tax period a declaration (hereinafter referred to as the Declaration). Sample declaration form and fill the order is determined by the Cabinet of Ministers.
(7) when drawing up the Declaration, the parties liable in accordance with article 4 of this law, on the basis of the tax period annual report financial statements included in the data, perform a final calculation of the fee for the tax period.
(8) If, after the seventh part of this article that the calculation is found that the quarterly instalments in the amount of fees paid is less than the amount you paid during the tax period in accordance with the statutory rate, paying the levy within 30 days after the tax period the Declaration is submitted to the financial and capital market Commission, the contribution of the Treasury designated the State budget revenue account remaining amount of the fee when submitting financial and capital market Commission supporting documents of payment.
(9) the financial and capital market Commission has the right to request fees within 30 days of the taxable person carries out duties additional duty, informing in writing the parties liable, if the fees payable by the payer of duties control (inspection) has found that the fee payer has not made payment in full of the fees, and adopted a decision on the merits of the additional payment of the fee.
(10) If, after the seventh part of this article that the calculation of fees is found paying quarterly instalments paid amount exceeds the amount of the fee which is payable during the tax period in accordance with the statutory rate, the excess amount of the fee including the next tax period payments.
(11) the financial and capital market Commission has the right to hold back the amount of the excess fees to transfer the next tax period payments, informing in writing the parties liable if, after receipt of the Declaration of the tax period for taking a decision on the fees the fees payable by the payer control (inspection), — until the Financial and capital market Commission adopted a decision on the validity of the overcharge.
(12) If the parties liable for your actions start or end in the middle of the tax period, the toll is determined in proportion to the time during the tax period.
(13) If the payer of the fee started its activities in the middle of the tax period, the quarterly payment of the fee for the first tax period is calculated from the dues paying quarterly report last month, the balance sheet total commitment amounts adjusted accordingly in accordance with article 4 of this law.
6. article. Fees administration fees (1) administered by the financial and capital market Commission.
(2) the financial and capital market Commission: 1) up to the taxation period 15 April estimated harmonize taxation period quarterly fee payment schedule;
2) controls the levy;
3) controlled by this law, article 5 of the Sixth Declaration referred to completeness and accuracy of the information;
4) prepare and forward to the calculation of the fee payer not completely carried out the payment of the fee.
7. article. The liability for payment of the fee time delay if the fee payer of dues payment is not made within the time limits laid down in this law, for the delay period is calculated the delay money in accordance with the law on taxes and duties ".
Transitional provisions 1. Cabinet of Ministers until July 1, 2011 to assess options in subsequent taxation periods also apply to the fees for other financial and capital market participants and other consumer lending service providers and, if necessary, appropriate amendments to the law on.
2. the Cabinet of Ministers until January 31, 2013 to assess options in subsequent periods of taxation levy payments redirect specially created Stability Fund and, if necessary, appropriate amendments to the law on.
The law shall enter into force on January 1, 2011.
The Parliament adopted the law on 20 December 2010.
President Valdis Zatlers in Riga of 2010 December 30.