Practical tips and up-to-date information on accounting, taxes and business in Latvia — from certified specialists.
Your contract has one number, your bank account another. We explain how net salary is actually calculated in Latvia in 2026, what the solidarity tax changes for high earners, and how wage garnishment works when an employee has multiple creditors.
A board member leaves, a new director joins or a shareholder sells out. We explain who decides, when the new board member takes office, which documents and signatures the Enterprise Register needs, what the state fee is and which deadlines apply.
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'Let's just use a contractor agreement, it's simpler' — a common phrase that can get expensive if the tax authority sees the relationship differently. We explain what actually determines the line between a genuine civil contract and disguised employment.
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From 25 September 2026, online consumer contracts that carry a right of withdrawal must offer a "Withdraw from contract" function and an acknowledgement of receipt. We explain who it applies to, what has not changed about 14-day refunds, what changes on 27 September, and how to record withdrawals in your books and VAT return.
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An employee stays late to finish a project — and you need to know whether that's even allowed without written consent, what the premium should be, and how to record it correctly. We explain the Labour Law requirements with exact article numbers.
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An employee calls in sick — and as an employer you have only seconds to remember which days you're paying for, when the state takes over, and at what percentage. We explain the full mechanism with exact rates and the specific law articles.
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A company car, health insurance, a holiday gift basket — each benefit you give employees has its own tax treatment: some are exempt, others are taxed as employee income or with corporate income tax. We explain the mechanism, the exemptions, and the mistakes employers make most often.
Read moreThe Balansis blog provides practical guidance for Latvian business owners and individuals on accounting, taxes and business management. All articles are written by certified accountants and tax consultants with hands-on experience serving Latvian companies.
Guides on bookkeeping, annual reports, accounting software, and obligations for SIA and sole trader owners in Latvia.
Explanations of VAT registration, personal income tax, corporate tax, VSAOI contributions, deadlines, penalties and VID requirements.
Advice on company formation, UR registration, employment law and managing a business in Latvia.
Salary calculations gross and net, employer costs, minimum wage, employee taxes and payroll bookkeeping.