Practical tips and up-to-date information on accounting, taxes and business in Latvia — from certified specialists.
50+ questions on SIA registration, taxes, the board, banking, and liquidation — answers based on the Commercial Law, VID and Register of Enterprises materials (checked in 2026).
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Since July 1, 2023, only accountants holding a license issued by the State Revenue Service (VID) may provide outsourced accounting services in Latvia. Here's what the license is, how to check it, and why it matters for your SIA.
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Before you sign with an accounting firm, check the one thing that's actually a legal requirement — a VID license. Certificates and associations are useful, but only the license determines whether a firm may legally provide the service at all.
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Reverse-charge VAT, work acceptance certificates, project cost tracking, and subcontractor joint liability — how to get construction company accounting right in Latvia in 2026, and where the most expensive mistakes happen.
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The VAT exemption for healthcare services, SIA vs. self-employed status, medical equipment depreciation, and medical institution licensing — everything a doctor or dentist needs to know about private practice accounting in 2026.
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In 2026 the rules changed for how utility payments are taxed and for the name of unregistered economic activity. Learn how to correctly declare rental income, choose the most favorable tax regime, and avoid the most common mistakes.
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.