Tax Law, Latvia

Introduction

Governments across Europe continue to reform their tax systems to ease the tax burden for small and medium-sized enterprises. Latvia finds itself in the midst of this process. Its tax system has experienced significant regulatory changes in the last few years.

As with most tax systems on the path of evolution, timely professional tax advice can greatly contribute to the bottom line of investments and business transactions.

We can clarify the options available to you and develop tax-efficient strategies that will contribute towards achievement of your business objectives.

Both domestic and international clients turn to us to advise on both traditional tax planning and innovative tax structures and solve issues ranging from challenging tax controversies to tax aspects of complex high net-worth transactions.

Our advantage is in our ability to deliver creative, pragmatic and business-oriented solutions tailored to the specific needs of each client.

Our lawyers have been structuring mergers and acquisitions, restructurings, financing and real estate transactions. We have advised our clients on a variety of employee benefit plans. Moreover, we have accumulated substantial expertise in acting for our clients before tax authorities and in defending our clients in tax litigations.

Services

Our principal tax practice areas include:

Taxation aspects of domestic and cross-border mergers and acquisitions, divestitures, spin-offs and real estate transactions
International taxation
Taxation aspects of structured products and capital markets
Taxation aspects of project, facility and equipment financings
Transfer pricing and related party transactions
VAT and customs
Taxation in labour relationships and employment remuneration schemes
Tax litigation

Our Experience

We pride ourselves in having represented our clients or having advised our clients on a number of transactions involving tax law issues. The track record of our tax practice includes, among others, the following significant transactions:

We advised a large international financial services company in certain tax matters forming part of their investment strategy in the Baltic states.

We provided comprehensive legal advice on tax matters (including natural resources taxation matters), investment and financing issues faced by a major global bio-fuel supplier.

We advised the national Latvian air carrier on tax aspects of its contemplated transfer of certain intellectual property rights and acquisition of new aircraft fleet.

We successfully represented interests of a high-profile international tobacco products supplier before the Supreme Court of Latvia with respect to a claim brought against the Latvian State Revenue Service with respect to refund of improperly assessed excise tax.

We advised a leading North American financial and wealth management institution on tax aspects of a wealth management program contemplated in the Baltic states.

We successfully represented a large domestic energy supplier with respect to a dispute alleging improper assessment of VAT. The matter involved interpretation of domestic VAT regulations as customarily applied by administrative courts.

Māris Vainovskis

Senior Partner
+371 6728 0102
E-mail

Anete Marhele

Senior Associate
+371 6728 0102
E-mail

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.