Amendments To The Law On Annual Reports

Original Language Title: Grozījumi Gada pārskatu likumā

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/212495

The Saeima has adopted and the President promulgated the following laws: the law on annual reports to make annual reports Act (Republic of Latvia Supreme Council and Government Informant, 1992, 44/45.nr.; The Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 1995, no. 8; in 1996, no 24; in 1998, nr. 6, 21; 2000, no. 2; 2001, no. 9; 2004, no. 2; 2005, no. 13; 2006, nr. 24; 2008, no. 13; 2009, no. 9; Latvian journal, 2009, no. 199; 2010, 40 no.) the following amendments: 1. Express article 1, first and second subparagraph by the following: "(1) this Act applies to companies established in Latvia, cooperatives, registered in Latvia European economic interest groups, the European cooperative societies and European corporates, as well as at individual companies, farmers and fishermen whose holdings in turnover (revenue) of economic transactions in the preceding financial year exceeds 200 000 LVL (hereinafter, the company).
(2) individual firms, farmers and fishermen holding can prepare annual report pursuant to the provisions of this law if their turnover (revenue) from economic transactions the previous year does not exceed 200 000 lats. "
2. Make article 3 first paragraph as follows: "(1) the Annual Report must cover 12 months, and usually coincides with the calendar year. Different reporting year beginning and end can only be registered in Latvia company, a cooperative society, established in Latvia for European economic interest group, the European company and the European cooperative company, individual companies, farmers and fishermen to the holding, if it determines that the company's articles of Association, rules or public contract. Individual companies, farmers and fishermen holding, which are not accepted by the statutes or Charter, or developed the report the beginning and end of the year determined by the decision of the society. "
3. Add to article 48, under the third subparagraph by the following: "(3) farmers and fishermen holding, company, cooperative societies, individual company that deals with agricultural production and receive State aid to agriculture or European Union support for agriculture and rural development or corporate tax rebate taxable persons involved in agricultural activities, annual accounts separately income from agricultural activities, included in the income statement net turnover."
4. the express 54 fifth paragraph of article as follows: "(5) If at the balance sheet date, a company exceeds or ceases to exceed the two from that referred to in the second subparagraph of article criteria, it loses or acquires the ability to apply the first subparagraph in these facilities, but only if this persists for two consecutive years. The newly formed company may apply the first subparagraph in the first year of remission, if at the balance sheet date, not more than two from this article in the second part of the criteria. "
5. transitional provisions: off point 7;
Replace paragraph 10 in number and the word "2011" with a number and the word "2013";
transitional provisions be supplemented by the following paragraph 13: "13. individual companies, farmers and fishermen holding, which become the subjects of this law, the starting balance difference between the total assets and the long-term and short-term accounts payable amounts indicate the BSI group" equity "in the advanced set up under" economic capital "."
The Parliament adopted the law of 10 June 2010.
President Valdis Zatlers in Riga 2010 g. at 30 June