Practical tips and up-to-date information on accounting, taxes and business in Latvia — from certified specialists.
Profit and cash in the bank are not the same thing — and that gap sinks even well-run companies. We show how to build a 13-week cash flow forecast, how to set the right invoice payment terms, how to handle late payments, and how big your cash reserve should really be.
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569 active startups, €110 million in taxes, and a fast-growing deeptech segment — in 2026, Latvia continues to position itself as one of the EU's most attractive landing spots for tech founders worldwide. We've gathered the key ecosystem figures, startup visa requirements, tax support programs, and practical steps every founder considering Latvia should know.
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0% corporate income tax on reinvested profit, full access to the EU single market, and a digitized public administration — in 2026, Latvia is a serious alternative to Estonia, Portugal, and Germany for international entrepreneurs. We've gathered everything a foreign founder needs to know, from registration to day-to-day operations.
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Switching accountants feels complicated and risky — especially when your current accountant holds EDS access and all your company's documentation. We walk through the transition step by step: from warning signs to the handover certificate and updating EDS authorization.
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An outsourcing invoice looks five times cheaper than an in-house accountant's salary — but that comparison is misleading. We break down both options down to the last euro, including hidden costs, and show when hiring in-house actually pays off.
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Most accounting mistakes at startups aren't deliberate schemes — they're misunderstandings, rushed decisions, and not knowing the rules. In 2026, with VID more technologically capable and tax regimes more complex, these mistakes cost even more. The ten we see most often — and how to avoid them.
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.