Tax reporting, accounting and strategy

Our complete approach to tax management brings together tax function design, technology and compliance delivery. By aligning your tax and tax technology strategies with your commercial goals, the tax function will become a strategic business asset, adding value across the organisation.

Redesign, redefine and redeploy the tax function to be a strategic business asset

 

The rapidly changing regulatory environment dictates that companies should be paying increasingly more attention to financial accounting and ways of managing tax risks and other related risks, which is not possible without continuous training and upgrading. At the same time, the fierce competition requires this to be done with limited resources. In response to these challenges, we suggest outsourcing these services to PwC’s team of experts.

Understanding your organisation’s challenges, goals and needs is just the start. Successful change will require re-engineering 'end-to-end' processes not just the final outputs. 

TRS, tax, pwc

We can work with you to:

Meet the challenges of complex multi-tax reporting and compliance obligations

Design and execute the right tax and tax technology strategies to manage tax risks in a rapidly changing and increasingly transparent global environment

Take full advantage of the opportunities presented by a technology and data enabled world

Financial and management accounting

  • Keeping your accounting records in line with the requirements of Latvian legislation, IAS/IFRS, and your group accounting policies
  • Monthly, quarterly and annual financial reporting for management, tax and group purposes
  • Assistance in creating or improving your chart of accounts
  • Devising accounting policies and preparing an accounting or finance manual
  • Preparing supporting documents for the efficient application of tax legislation
  • Services related to closing the financial year and support in your dealings with auditors and government agencies
  • Continuous optimisation of your accounting and reporting processes tailored to your business needs.

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Payroll calculations and taxes

  • Calculating monthly gross/net pay, personal income tax charges and national insurance contributions for individuals employed in Latvia aand abroad
  • Preparing and filing monthly and annual tax returns via the Electronic Declaration System or other systems for individuals employed abroad
  • Advising on your obligations, filing procedures and deadlines
  • Checking your tax returns and advising on a tax strategy appropriate for your business needs.

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Value added tax (VAT)

  • Accounting for your transactions, keeping your VAT records, and preparing your returns according to the legislation of Latvia and other countries
  • Checking your VAT returns and calculations
  • Filing your VAT returns
  • Advice on VAT issues
  • Intra-EU transactions and Intrastat reporting
  • Assistance with tax refunds and support during tax audits.

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Coorporate income tax (CIT)

  • Preparing your CIT return according to the legislation of Latvia and other countries
  • Checking your CIT return
  • Filing your CIT return
  • Advice on the CIT or deferred-tax treatment of certain transactions
  • Advice on paying taxes and assistance with tax refunds, as well as support during tax audits
  • Tax planning tailored to your business needs and goals.

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Contact us

Ilze Rauza

Tax Director, PwC Latvia

Tel: +371 6709 4400

Nina Podvinska

Manager| Certified Tax Advisor | Tax and Legal Services, PwC Latvia

Tel: 67094400

Ilze Palmbaha

Tax reporting, accounting and strategy manager , PwC Latvia

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