| Taxes reports |
- The following taxes reports should be prepared every month:
- VAT report;
- emloyees report;
- social taxes.
- Reports should be delivered to State Revenue Service till the next month 15th date.
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| Accounts |
- Every company must submit year end accounts even if it has not traded.
- Accounts should be prepared and delivered to State Revenue Service and Companies Register till 30 April.
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| The financial year |
- This is the period covered by the accounts.
- For a new company, it starts on the date of incorporation, regardless of when the company actually starts doing business and ends on 31 December.
- For a company which has previously delivered accounts, it starts on 1 January and ends on 31 December.
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| Contents of the accounts |
- The accounts and reports must include:
- a directors’ report;
- a profit and loss account;
- a balance sheet.
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| Audit |
- The accounts must be audited if two of the following come true:
- annual turnover more than LVL 200 000;
- the balance sheet more than LVL 100 000;
- the avarage number of employees more than 25.
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