Amendments To The Law "on Enterprise Income Tax"

Original Language Title: Grozījumi likumā "Par uzņēmumu ienākuma nodokli"

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here: https://www.vestnesis.lv/op/2016/31.6

The Saeima has adopted and promulgated the following laws of Valstsprezident: the amendments to the law "on enterprise income tax" to make the law "on enterprise income tax" (Latvian Saeima and the Cabinet of Ministers rapporteur, 1995, 7, 24 no; 1996, nr. 9, 15; 1997, no. 8, 24; 1998, nr. 8, 21; 1999, no. 6, 24; 2000, no. 9; 2001, 1, 5, 24 no; 2003; 2005, 15 No 2, 24 No; 2006 1. no; 2007, 3, 12, no. 24; 2009, 1, 15, no. 21; Latvian journal, 2009, 175, 200. no; 2010, 102, 131, no. 170, 206; 204. in 2011, no; 2013, 53, 119, 194, no. 232; 2014, 247., 257. no; 2015, 42 no). the amendments are as follows: 1. Article 1: replace the first paragraph, the words "annual report law" with the words "of the annual accounts and consolidated annual accounts of the law" and the words "insurance company and under the supervision of the law" with the words "insurance and reinsurance law"; to complement the twenty seventh subparagraph following the words "software installation" with the words "server and data center equipment". 2. Replace article 2, paragraph 2, second subparagraph, the words "annual report to the law" with the words "of the annual accounts and consolidated annual accounts of the law". 3. Replace the seventh subparagraph of article 3, the words "of the annual accounts of credit institutions act, the Act or the insurance companies and the supervisory law" with the words "and the regulations of the Republic of Latvia, the entity shall determine the procedure for the preparation of the annual report". 4. Article 4: make the first part of the first sentence by the following: "taxable persons (hereinafter also – payer) — residents and permanent missions — taxable income is in accordance with the laws of the Republic prepared the annual report of the payer of the income statement or in accordance with international accounting standards adopted in accordance with the European Parliament and of the Council of 19 July 2002, Regulation (EC) No 1606/2002 on the application of international accounting standards as prescribed in the statement of income and other income in the statement of the United reported profit or loss before corporate income tax calculation, which is respectively increased or decreased by the expenditure or expenditure amount, which are not directly connected with the economic activity of the taxable person and the amount of damages, which are created by a person belonging to or use the existing social infrastructure objects maintenance. "; Express 1.1 part as follows: "(11) other taxable persons who are not bound by the laws of the Republic of Latvia laying down the arrangements for the preparation of the annual report, as well as those that are not covered by article 2 of this law, the second and third paragraphs and which derive revenue from economic activities, taxable income is the difference between the proceeds from economic activity and with the revenue generating costs and which is adjusted in accordance with this Act."; replace the fifth paragraph, the words "annual report to the law" with the words "of the annual accounts and consolidated annual accounts of the law". 5. in article 6: replace the first subparagraph of paragraph 1, the words "the said fixed asset depreciation and write-off of intangible investment sum of" with the words "the said fixed assets and intangible investments impairment adjustment amount"; make the first part of paragraph 4 by the following: "3. this Act 4) the fourth part of article 2 and paragraph 5, in the eighth part of the eligible costs (except dividends) and 8.2 part of the eligible costs (except in extraordinary dividends) If a taxable person is not from them after a specified amount of tax, as well as on payments made to non-residents, which are done using electronic payment systems, if those costs from the moment had to withhold tax in accordance with article 3 of this law the eighth , 8.2 and the ninth part, but the cost of the income at the time could not withhold it. "; Supplement fifth subparagraph following the words "items of revaluation" by the words "including the evaluation at fair value (revaluation)"; replace the sixth paragraph, the words "insurance company and under the supervision of the law" with the words "insurance and reinsurance law." 6. Replace article 8, the words "and under the supervision of insurance undertakings or reinsurance law law" with the words "insurance and reinsurance law." 7. To turn off the first part of article 12. 8. Supplement article 13 with 2.1 part as follows: "(21) the remaining asset value shall not be taken into account in the cost estimate for decommissioning and disposal of it, as well as locations." 9. Express article 15 the second subparagraph by the following: "(2) If the taxable person uses corporate income tax rebates in accordance with other laws of the Republic of Latvia, the tax provided for in this chapter are not subject to discounts except for the discount on the tax paid abroad in accordance with article 16 of this law and other donors under the discount this law 20.1 article. Tax credit in accordance with other laws of the Republic of Latvia to apply the amount of the tax by this law, laid down in article 16 and 20.1 rebate application. " 10. Add to article 17.2 eighth with 15.1 points as follows: "151) information services (NACE J63);". 11. Express article 22, first paragraph, third sentence by the following: "taxable person shall submit a declaration together with an annual report within the time limit laid down in the laws of the Republic of Latvia, the entity shall determine the procedure for the preparation of the annual report." 12. Article 23: replace the first subparagraph of paragraph 1, the words "annual report" with the words "the law of the Republic of Latvia laws that subject concerned shall determine the procedure for the preparation of the annual report"; turn off third. 13. Article 24: put the name of the article as follows: "article 24. The withholding tax and the provision of information "; make the second paragraph as follows: "(2) the taxable person is obliged to provide to the State revenue service information on amounts paid to non-residents, as well as the withholding tax from non-residents paid amounts, subject to the regulations establishing procedures provides information on payments made to non-residents, as well as withholding tax from amounts paid to non-residents." 14. Replace article 26, first paragraph, the words "as well as on the law" on accounting ", annual review of the law, the law of credit institutions, credit unions, insurance companies act and the supervision law, investment management companies act and the financial instruments market law" with the words "and the law" on accounting "and" in the laws of the Republic of Latvia, the entity shall determine the procedure for the preparation of the annual report ". 15. Express article 27 paragraph 3 by the following: "3) procedure provides information on payments made to non-residents, as well as the withholding tax from amounts paid to non-residents;". 16. transitional provisions: express the following in paragraph 116: "116. Amendment of article 6 of this law, the fourth part of the exclusion in paragraph 2 and article 14 in part for its ninth defeat inapplicable, starting with the tax period, which begins in the year 2019, and subsequent taxation periods."; transitional provisions be supplemented by the following paragraph 128: "128. Amendment of article 24 of this law, second paragraph and article 27, paragraph 3, concerning the order in which provides information on payments made to non-residents, as well as the withholding tax from amounts paid to non-residents, applicable to transactions conducted, starting with January 1, 2017."
The Parliament adopted the law of 4 February 2016. The President of the Parliament instead of the President i. Mūrniec Riga 2016 February 15.