Expanding Business Operations to Latvia: The Role of Professional Accounting Partners

Apr 16, 2024 | Accounting, Finances

In today’s world, where business boundaries are becoming increasingly blurred, many companies are striving to expand their operations beyond their home countries. Latvia, with its advantageous geographical position and favorable economic policy, attracts the attention of foreign investors. However, entering a new market comes with a series of accounting and tax issues that require a professional approach.

Partnering with BBCRiga for Success

Accounting firm BBCRiga stands as a reliable partner for foreign companies wishing to operate in Latvia.

Assistance with VAT Registration

One of the main services is assistance with VAT registration for foreign companies. This step not only provides access to conduct business within the country’s territory but also facilitates collaboration with local and European partners.

Support in Paying Social Taxes

Additionally, BBCRiga offers support in paying social taxes for those foreign companies that have employees in Latvia. Social contributions are an important part of the social security system, and their timely and correct payment ensures compliance with legislation and contributes to the formation of a positive image of the company.

Identifying Signs of a Permanent Establishment

Another aspect of collaboration with BBCRiga is assistance in identifying the signs of a permanent establishment. For foreign companies actively conducting business in Latvia, there may be a need to officially recognize their status. This entails a number of tax obligations, with which BBCRiga is ready to help cope.

The Importance of a Reliable Accounting Partner

The importance of choosing a reliable accounting partner cannot be overstated. In the conditions of the Latvian market, where every detail of tax and accounting reporting matters, professional support from BBCRiga becomes the key to successful business management. Experience, knowledge of local norms and laws, and an individual approach to each client – this is what makes collaboration with BBCRiga not just a choice, but a strategic decision on the path to success for your company in the Latvian market.

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