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Latvia

Latvia has a standard tax rate depending on the nature of the income. A foreign resident pays tax only on his income in Latvia without the income earned overseas. CXC provides its clients with assistance regarding the Residence Permit Application as well as with the Value Added Tax registration or the Preparation of Personal Income Tax Return.

CXC Global’s local expertise and knowledge of Latvian labour and tax laws, allows us to work closely with our clients, assist with Local Tax and Social Security Registration, VAT Registration, including a preparation of a personal income tax return at the end of the tax year.

Contracting in Latvia has some complexity. The taxation system in Latvia is multi layered and is not contractor friendly. Latvia is recognised for being a country with some of the best living standards in Eastern Europe. They has entered into Double Taxation Treaties with some countries and do not encourage contracting. For foreign national contract workers, contracting in Latvia, it would be wise to consult with CXC Global on the best way to structure, and how best to balance taxation.

  • With our extensive experience and expertise in contractor management, and assisting organisations with their contingent workforce, CXC Global has the resources and solutions to manage the administration process associated with contracting in Latvia, facilitating accounting services to run payroll and administration, local tax calculations for Latvia, social security registration, tax balancing and preparation of personal income tax return at the end of the tax year

In-country services include

  • Residence Permit Application
  • Local Accountant
  • Local Tax and Social Security Registration
  • VAT Registration
  • Preparation of Personal Income Tax Return
  • Wealth Creation guidance
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