Practical tips and up-to-date information on accounting, taxes and business in Latvia — from certified specialists.
Opening a bank account for a SIA can take weeks — even though registration with the Enterprise Register itself takes just a few days. We compare 8 banks and payment institutions, list the documents you'll need, and explain what to do if a bank turns you down.
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When VAT registration is mandatory, when voluntary registration pays off, and how to do it through EDS step by step. Verified 2026 rates, thresholds and deadlines, including the temporary 12% rate on basic food products.
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2026 brought several significant changes to Latvia's tax system — a new alternative corporate tax regime for dividends, a higher minimum wage and tax-free allowance, VAT changes for food and books, and higher excise duties. Here's what's actually changing, and what to do about it.
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Can you use your own apartment address as your SIA's legal address? How much does a virtual office cost? What happens if the address stops being valid? We answer every question about legal addresses in Latvia in 2026.
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.