Tag Archives: Latvia

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Emergency situation in Latvia due to Covid-19 revoked

On 10 June 2020, the state of emergency was abolished in Latvia, but at the same time the state aid measures and restrictions imposed (with certain exceptions) remain in force.

On Friday, 5 June 2020, the Saeima adopted the Law on Overcoming the Consequences of the Spread of Covid-19 Infectionwhich entered into force on June 10 and will regulate the state aid measures and determine the measures to prevent the consequences of Covid-19 after the end of the emergency situation on 9 June 2020.

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Covid-19 in Latvia: State of Emergency extended until 9 June 2020

General

  • From 12 May 2020, it is allowed to hold public events both indoors and outdoors, by observing distance of 2 meters. The number of participants in the event may not exceed 25 people, and the maximum duration of the event shall be 3 hours;
  • Mouth and nose cover shall be worn when using public transport;
  • From 12 May 2020, museums, libraries, the National Archive will be able to gradually resume operations, the same applies to cultural events that can be observed from personal auto transport (drive-in events);
  • The shopping centres can be open on weekends and holidays;
  • From 12 May 2020, it is allowed to organize tourism services for travel only in Latvia, Lithuania, and Estonia.
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Amendments to the procedure for granting idle time benefits

Today, on 23 April 2020, the Cabinet of Ministers amended the criteria for granting idle time benefits. The most essential amendments:

  • the reduction in turnover for any undertaking affected by the crisis shall be calculated by comparing the turnover in March or April 2020 with the average income from economic activity for the months worked in 2019;
  • self-employed persons who perform pedagogical or creative work on a part-time basis and whose monthly income does not exceed the minimum wage are eligible for idle time benefit;
  • idle time benefit shall not be granted to members of management board if during the preceding year and at the time of assessment of the application the member of the management board has been punished for violations in the areas of tax and customs or for the breach of the regulatory enactments governing labour legal relationship, unless a warning or a fine not exceeding EUR 151 has been imposed for a single violation, and the total amount of penalties per year does not exceed EUR 500.
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Covid-19 in Latvia: State of Emergency extended until 12 May 2020 and other updates

Covid-19 in Latvia: At the meeting of April 7, the Cabinet of Ministers extended the State of Emergency until May 12, 2020. In turn, at an extraordinary session on April 3, the Parliament of Latvia adopted several amendments to the regulatory enactments due to the spread of Covid-19.

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Covid-19 in Latvia: Updates

The Cabinet of Ministers extends the range of beneficiaries eligible for idle time benefits and tax holidays, establishing that the benefits will also be available to those having a tax debt in an amount less than EUR 1,000 and to companies established after March 1, 2019.

On April 2, 2020, the Cabinet of Ministers adopted the following amendments to the criteria and procedures for receiving an idle time benefit and extension of the tax payment term or a deferral of up to 3 years for any Covid-19 crisis-hit company:

  • The allowed tax debt threshold has been increased to EUR 1000 while maintaining the condition that in case of higher tax debt, the employer shall have a prior agreement with the SRS;
  • If the employer or the taxpayer was established in the period from 1 March 2019 to 31 December 2019, the decrease in turnover shall be calculated taking into account the average turnover in 2019;
  • When receiving the idle time benefit, the employer shall not increase the number of employees compared to the number of employees at the beginning of the idle time.

Read more about the amendments here

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Latvia: Inese Hazenfusa comments on the Regulatory Sandbox for Fintech Companies

On September 5, 2017 in the newspaper Dienas Bizness Inese Hazenfusa, Partner at TGS Baltic, comments on the regulatory sandbox for financial technology companies or fintech companies. Among other things, Inese states that the regulatory sandbox is a safe place, where an entrepreneur may try one’s innovative ideas and solutions in real life within the existing regulatory framework and in close communication with the state supervisor of the respective field. Thus, it creates possibility to identify potential risks on time and to prevent them.

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Pāvels Tjuševs on current state of arbitration in Latvia

On the 4 September 2017 the daily newspaper Diena published an article by Pavels Tjusevs – an associate in TGS Baltic. The article concerned the current state of arbitration within the legal system of Latvia, as well as the influence and effectiveness of the arbitration reform initiated and completed by Ministry of Justice. The article evaluates both the public opinion in Latvia towards the use of arbitration as an alternative dispute resolution method, as well as the recent amendments to the ICC Rules of Arbitration.

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Latvia: New restrictions in the Commercial Law with respect to the transactions with related parties

Internet magazine ITiesības in its 22 August 2017 issue published an article by TGS Baltic lawyer Reinis Grunte on the new restrictions to the Commercial Law with respect to the transactions with related parties.

Amendments to the Commercial Law, which came into force on 13 July 2017, prescribe for essential changes to the transactions with related parties. The new amendments are meant for strengthening the protection of minority shareholders, as well as ensuring transparency in the conclusion of transactions by companies.

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Latvia: New exceptions to the procedure for registration of the acquirer of shares in a limited liability company

Internet magazine ITiesības, in its 8 August 2017 issue, published an article by Kalvis Krūmiņš, Associate Attorney at Law of TGS Baltic,  on new exceptions to the procedure for registration of the acquirer of shares in a limited liability company, which came into effect on 13 July 2017. Those amendments to the Commercial Law are essential, since there have been dispute in practice in cases, when the shares were purchased by using a commercial pledge, while the management board refused making an entry in the shareholder register.

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Inese Rendeniece on the most recent insurance case law

Magazine ITiesibas in its 22 June 2017 issue published an article by Inese Rendeniece, Senior Associate at TGS Baltic, on the most recent insurance case law. Inese reviewed the conclusions of the Civil Case Department of the Supreme Court of the Republic of Latvia with respect to the burden of proof in case of refusal of payment of insurance indemnity, as well as the conclusions of the Civil Case Department regarding payment of the insurance indemnity in case of breach of insurance agreement on the part of the insured.

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