News

The submission of the voluntary annual personal income tax return in Latvia on 1 March is approaching, giving Latvian residents the opportunity to recover overpaid personal income tax (PIT). If during you have worked, studied, received medical treatment, donated or made pension savings in 2025, submitting a return may result in a real refund deposited into your bank account.

The summer student employment program, implemented every year by the Latvian State Employment Agency (NVA), will one again offer employers the opportunity to attract motivated young people with state co-financing, while also contributing to the development of the future workforce. The acceptance of applications for implementing the student employment program in summer 2026 will begin from 23 February to 15 March.

Expanding a business internationally has never been more accessible. Today, companies of all sizes, from startups to established SMEs, are taking advantage of global opportunities to reach new clients, reduce operational risks and unlock long-term growth. With the right strategy, entering a foreign market can increase revenue and strengthen a company’s global presence. However, successful international expansion requires a clear understanding of the legal, tax and employment frameworks in each target country. Company registration procedures, corporate tax rates, payroll regulations and labour laws vary widely. These differences influence how quickly a business can launch operations, what it will cost and what compliance obligations must be met.

Latvia has held on to its A- credit rating with a Stable Outlook, according to the latest update from Fitch Ratings on 7th November. This confirmation sends a clear message to investors, businesses and international partners: Latvia continues to be viewed as a solid, investment-grade market where financing conditions remain comparatively stable.

Tax Overview for Global Mobility is a cross-border guide addressing the tax, social security, and compliance challenges faced by employees and employers operating internationally. As part of this collaborative project, Numeri contributed the Estonian and Latvian chapter, providing expertise on tax residency and personal income tax in the regions, social security and health insurance rules for mobile workers, double taxation relief mechanisms and key compliance and reporting obligations.

Scammers are becoming increasingly sophisticated and deceptive. They impersonate representatives from local eSignature companies, "Google", State Banks, State Police, State Financial institutions, or even emergency medical services with the goal of stealing personal data, gaining access to eSignature or Smart-ID, and ultimately - your money. Most people lose funds through credit transfers or card payments, and many of these transactions are approved by the victims themselves.

New guidelines from Latvia’s Financial Intelligence Unit (FID) and insights from the June 2025 FATF report highlight growing risks of indirect sanctions evasion - particularly through countries like China, Turkey, Kazakhstan, and others. These red flags aren’t just relevant to Latvian companies. The same principles apply across the Baltics, where businesses in finance, logistics, IT, and trade must remain alert to hidden end-users, suspicious trade routes, and deceptive intermediaries. FID and FATF guidelines outline practical steps for Baltic companies to assess sanctions risks and avoid becoming part of illicit networks.