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We focus on the detail to assist your business
We are here to assist
With more than 18 years of experience in tax, we offer a variety of areas of expertise. We are not just certified tax consultants, but also sworn auditors, certified accountants, ex-BIG4 managers which in combination provide the best knowledge to address any difficulty you might face.
Due diligence
Buy-side assistance in gathering and assessing information on the vendor to address potential risks and help with negotiations.
vat agents
We can assist you in registering and maintaining Latvian VAT or consult in case if you are uncertain of VAT application in Latvia.
transaction support
Buy-side and Sell-side support to gain the best synergy from the transaction and avoid unnecessary risks.
VAT Agents
If a non-Latvian company is providing taxable goods or services in Latvia, it may have to obtain non-resident VAT registration. Foreign traders are obligated to register for VAT in certain circumstances in order to declare VAT that must be charged.
Businesses with a commercial activity in Latvia assess their compliance obligations and register before commencing taxable transactions incur.
What could trigger an obligation to register for VAT in Latvia?
- Importing goods into Latvia from outside the European Union
- Buying and selling goods in Latvia
- Selling goods from Latvia which are delivered to customers outside of Latvia (business or private customers)
- Acquiring goods in Latvia from another EU country (Intra-community acquisitions)
- Holding inventory in Latvia for sale, distribution or consignment
- E-commerce sales of goods to consumers, subject to Distance Selling VAT registration thresholds
- Organizing events in Latvia where attendees or delegates must pay admission
If you are conducting, or plan to conduct transactions in Latvia, you are welcome to contact us for a complimentary consultation!
Due Diligence
Due Diligence services assist investors or sellers of a business to identify the financial, business and other risks associated with a transaction.
With effective due diligence, parties are to be spared the loss of time, money and reputation.
We provide a broad view beyond simple financial and documentation analysis.
Financial and tax due diligence is defining the scope of where to engage with the management in the negotiation process.
Our due diligence approach:
- Identify tax risks
- Spot potential deal breakers
- Understanding the entity’s business and identify insights of operations
- Assess the risks of the entity and its industry concerning investment objectives
- Present strengths and weaknesses of the entity’s financials
- Identify synergy between both companies
- Vendor side due diligence
- Financial, legal and tax due diligence
Transaction Support
Businesses involved in a potential transaction have to ensure that the financial information presented is as accurate as possible. Not only this prevents excess payment but it also ensures that the governance and risk management objectives are met.
Deals are complex and with great risk. Buyers do not always get the value anticipated from the transaction. This is due to the information gap between buyers and vendors. You can mitigate such risks, bridge the gap and maximize returns by conducting financial due diligence.
How we can support you
- Put credibility to the facts, figures, and information in the sales contract
- Give vendors control over the sale process and the timing of the sale, which can help secure a higher price for the business
- Provide purchasers with certainty over the nature of the business and the trust of its cash flow.
- Help reduce business disruption as the sale process can be more controlled.
- Identification of critical issues that could potentially include uncertainties in the sales contract
- Reduces risk for financial institutions involved in the transaction
We Will Help You Every Step Of The Way
We promise to reply within 24 hours after your inquiry.
Any more questions?
Phone: +371 28660245
Email: gramatvediba@ilatax.com
Antonijas 8-8, Riga
MON-FRI 10AM - 7PM SAT-SUN closed
About
ILA Tax & Accounting Solutions
Reg. No. 44103126683