Latvia

Deloitte Kosovo has been in the market for over two decades and has a reputation for actively supporting and advising its customers on proper implementation of local tax legislation. The firm actively participates in the creation of local tax legislation that promote a fair and efficient tax legislative environment for businesses to operate in. The Kosovo tax and legal department now has more than 40 full-time staff members.

During the research period, the firm supported a well-known cement company in Kosovo with a tax litigation matter involving the taxation of interest payments.

Breicis was formerly known as AAT. Arturs Breicis, the company's founder, has more than 20 years of expertise in taxation and transfer pricing, with more than 12 years spent working with Big Four firms in Latvia.

During the research phase, the business provided Fristads Production with Transfer pricing records for the workwear manufacturing group. The team also presented Riga PBSA Investments with a valuation and rental charge research for the newly constructed student dormitory.

Senior consultant Dins Ricards Rempe began working with the firm during the research period.

Client feedback

“Was very good communication, good data upgrade, clear explanation, deep understanding of the issue.”

“Deep analyses of our product range, in comparison with competitive products available in our distribution areas. Fast responding and high competency.”

“Breicis are an experienced team and they not only prepare transfer pricing documentation, but also help afterward. For example, if the internal revenue service is doing an audit on transfer deals and has questions about documentation then Breicis offers help. Also, with the last documentation after we implemented the transfer price calculation we saw that maybe we need to have different algorithm for transfer pricing and Breicis did an aftersales consultancy in order to help us. Also good for Breicis is that they are not a large consultancy company and therefore they are more flexible in their services and also can take more personal approach.”

“Communication and professional services. Timely and detailed responses. Clear fees policy with no surprise charges. Readiness to analyse and advise on optimisation. High service level. Prompt review of documents and preparation of necessary documentation.”

“Very complex information which was at the same time easy to understand. Helpful in the case of additional questions.”

“They are good specialists in transfer pricing, general tax advice, corporate income tax.”

“Breicis is a professional in the field of transfer pricing. Provides clear and reasoned advice in line with best practice. Breicis has a personal attitude in cooperation with customers.”

“Interested and friendly attitude, fast responses, good quality of advice and documentation.”

“Clear understanding of local taxation and tax planning.”

“Professional, explained all the details of legislation regarding the topic, provided services on time and within our budget.”

“No formal attitude. They are interested in the specific work.”

“Well-designed and structured TP documents.”

Cobalt has a tax practic in Latvia with a team of 16 specialists including two partners, two specialist counsels, one senior associate and one associate, with one partner in control of the practice group and the other leading specific cases in his areas of competence.

Throughout the research process, the firm advised BaltCap Latvia Venture Capital Fund and other shareholders on different tax aspects, including CIT, VAT and payroll tax. Furthermore, the team represented Civinity Solutions in a VAT, CIT, and transfer pricing dispute with the State Revenue Service.

Client feedback

“Quick and professional responses.”

Tax partner Kristine Jarve leads Deloitte's Baltic team. Janis Cupans, the tax partner in Latvia, assists her. The team includes tax professionals as well as practitioners from the financial consultancy, audit and legal divisions, allowing it to provide full-service client support.

During the research period, the firm aided Wolt in creating tax neutrality for Wolt Estonian resident shareholders and option holders exchanging their Wolt shares and options for shares/RSUs in DoorDash by filing a request for an early binding judgement. Furthermore, the team assisted one of the world's largest engineering firms in substantiating changes in the client’s transfer pricing model across several jurisdictions, following a business restructuring that resulted in the shutdown of an Estonian manufacturing entity and the service and market reallocation.

The tax practice at Kronbergs Čukste Levin, the Riga office of the pan-Baltic Levin group, is led by partners Vineta Čukste-Jurjeva and Valters Kronbergs. It is particularly adept at M&A but does significant work in litigation, indirect tax, tax structuring, compliance, personal income tax and general corporate tax.

Throughout the research period, 4finance, Latvia's largest consumer credit provider, was represented by the firm in major tax litigation over the use of donations tax benefits for corporations. Additionally, the team represented Latvenergo in a tax dispute with a cogeneration fuel facility.

Client feedback

“Extremely professional team. Very good planning. In-depth knowledge of the field. Fast and professional advisory on real estate business and legal matters.”

“Very professional and informal approach to business. Able to work very well in English. Responsive and often proactive, linking past work with present projects.”

Sorainen's highly experienced and completely integrated pan-Baltic Tax team will provide full-scope taxation due diligence and transfer pricing services in the region, including benchmarking searches for TP paperwork and tax compliance. The team is led by Saulė Dagilytė, country managing partner.

At the request of the E-Commerce Association, the team was involved in updating VAT laws and creating a draft law to collect taxes on overseas e-shops throughout the research phase. Furthermore, the team aided a number of organisations that provide cryptocurrency-related services globally, as well as private individuals, with tax concerns.

Senior associate Edgars Hercenbergs from Rödl & Partner joined the firm during the research period, while senior associates Alisa Leškoviča and Rasa Mikutienė left.

TGS Baltic's Latvian office is led by Andra Rubene and Rūdolfs Vilsons. Cases addressed include M&A, compliance, real estate, tax disputes, private equity, venture capital taxation, income tax, VAT, litigation and excise/customs duties.

During the research period, the firm offered European Energy tax-related support. The team also assisted BETHOC in acquiring SPORT REVOLUTION in terms of taxation.

Senior associate Zane Sedlova, from Law Office Romualds Vonsovičs, recently joined the team.

Walless Latvia currently has four specialised tax professionals on staff. Ingūna Ābele is supported by two senior associates and one associate partner. Compliance, audit, tax disputes, litigation, international tax, tax structuring, customs, transfer pricing, and HNWIs are among the services offered by the team.

During the research period, the firm assisted the CleanR Group in restructuring. The team also provided Capitalica Asset Management with tax assistance in connection with the purchase of a logistics hub in Riga, near the Riga Airport.