This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).
The content will be updated regularly. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.
The government of Latvia announced tax relief measures to support businesses in response to the coronavirus (COVID-19) pandemic. The measures include:
In general, through 30 June 2020, tax relief allows for:
Regulations issued March 24, 2020 defined which industries were “most affected” by COVID-19 and include public catering, international passenger transportation, car lease, hospitality and tourism, public and cultural events, education, and fitness services.
These tax relief measures were extended on March 26, 2020 to all companies—regardless of their industry sector, provided the companies meet certain criteria:
There are other criteria for a company to qualify for the downtime support, such as compliance with tax return submission rules, payment of outstanding tax liabilities, lack of identified major tax compliance breaches, etc. In assessing taxpayer applications for the postponement of tax payments, the tax authority will assess compliance with prior tax payment and tax return submissions, the level of cooperation from the taxpayer, and if there have been tax assessments raised following previous tax audits.