Factsheet for measure
LV-2020-11/596
–
Updated
– measures in Latvia
Submission of annual reports
Gada pārskatu iesniegšana
Background information
A special regime for the submission of annual reports is introduced through Section 15 of the law “On Measures for the Prevention and Suppression of Threat to the State and Its Consequences Due to the Spread of COVID-19” (adopted on 20 March 2020, valid from 22 March 2020). According to this measure, the Minister for Finance is empowered to extend the terms for the preparation and submission of the tax statements specified in Sections 30, 31, and 32 of the Law on Budget and Financial Management and in the regulations issued on the basis thereof, and also the terms for the provision of opinions on statements.
Content of measure
The new measure, in detail, establishes that:
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an undertaking (company) to which the Law on the Annual Financial Statements and Consolidated Financial Statements applies is entitled to submit the annual statement and the consolidated annual statement (if applicable) on 2019 within a term which exceeds the ordinary one by three months;
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an association or foundation is entitled to submit the annual statement on 2019 or part thereof to the State Revenue Service by 31 July 2020;
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a religious organisation is entitled to submit the annual statement on 2019 or part thereof to the State Revenue Service by 31 July 2020.
Updates
The following updates to this measure have been made after it came into effect.
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20 March 2021
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On 20 March 2021 the Law was amended by setting the same conditions for the 2020 annual reports as for the 2019 annual reports - namely, companies may submit annual reports three months later, and associations and religious organizations may submit annual reports until 30 June 2021.
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10 June 2020
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On 10 June 2020 the new umbrella law “On the Suppression of Consequences of the Spread of COVID-19 Infection” was adopted and took over functions of the initial law “On Measures for the Prevention and Suppression of Threat to the State and Its Consequences Due to the Spread of COVID-19”.
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Use of measure
No information to date.
Target groups
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Workers
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Businesses
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Citizens
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Does not apply to workers
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Applies to all businesses
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Does not apply to citizens
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Actors and funding
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Actors
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Funding
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National government
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No special funding required
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Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
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Employers' organisations
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Role
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Consulted
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Consulted
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Form
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Direct consultation outside a formal body
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Direct consultation outside a formal body
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Social partners' role in the
implementation, monitoring and assessment phase:
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Unknown
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Main level of involvement: Unknown
Involvement
No specific involvement.
Views and reactions
As far as we know social partners participate in discussions on measures for the prevention and suppression the spread of COVID-19 and on crisis impact on economy. However specific opinions of social partners are not published.
Sources
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09 April 2020: Law On Measures for the Prevention and Suppression of Threat to the State and Its Consequences Due to the Spread of COVID-19
(likumi.lv)
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09 April 2020: State Revenue Service informative page on COVID-19
(www.vid.gov.lv)
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28 September 2021: Law on the Suppression of Consequences of the Spread of COVID-19 Infection (edition 28 September 2021)
(likumi.lv)
