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Legal market overview
EU membership and connection to CIS countries continue to impact Latvia’s economy, particularly in the real estate sector. Domestic investors, as well as those from Nordic and CIS countries, especially Russia, bolstered Latvia’s property market in 2014. Since then, there have been fears Russia’s appetite for Latvian high-end properties will falter, in light of Russia’s shrinking economy, political tensions over Ukraine and Latvia’s decision to increase the cost of residency rights from €150,000 to €250,000. The consumer goods and important food production markets also suffered from Russian sanctions, with milk prices falling sharply.
In January 2015, arbitration amendments were enforced following 2014’s introduction of a three-tier court structure. The Register of Enterprises will now handle court registration to reduce Latvia’s high number of arbitration courts. Abolishing the Supreme Court’s Criminal Case Chamber also helped move towards a more trusted system.
Personal income tax was reduced to 23% in 2015, and in January 2016 further tax amendments were introduced with the enforcement of the Micro-enterprise Tax Law, which will affect social contributions made by employers and employees. Other significant changes included the adoption of a new industrial property law.
Borenius’ merger with Cobalt became official in January 2016, seeing Indrikis Liepa, Gatis Flinters and new managing partner Lauris Liepa join the latter firm. This came not long after the separation of Lawin and Raidla Lejins & Norcous, in which Raidla’s Latvian and Lithuanian teams joined Lawin’s Estonian office to form Cobalt.
New firms include Skopina & Azanda, Law Office Spridzans and KPMG Law Firm. Redot, Attorneys at Law now operates under its new name Primus, Attorneys at Law.
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
Click here to read the feature.
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Inside this issue: Latest case law in labour matters Protection of proprietary in-terests of a company at the European Court of human rights — why not? Assessing the transfer of an undertaking NEWS – ANNOUNCEMENTS – EVENTS
A practical insight to cross-border Corporate Tax work
This article covers two topics (1) Estonian employment contracts and their termination (2) Amendments in Law “On State Social Insurance”
Latvia: 2007 year in review.
The new Insolvency Law has come in to force as of 1st January 2008
Read entire article by clicking here...
used mileage points interpreted as sales allowance deductible from tax base- Lee & Ko
Head of VEGAS LEX PPP and Infrastructure practice Denis Shtirbu moderated the session on transport cooperation and logistics at The Moscow Times conference, Doing Business with China. New Horizons for Business Cooperation: Russia – China .
GRP Rainer Rechtsanwälte has once again received awards, this time for the year 2017, from Corporate INTL for best law firm in the fields of commercial law and tax law in Germany.
The members of a sisterhood may also fall within the ambit of the regulations pertaining to what is termed labour leasing or temporary employment. That was the verdict of the Court of Justice of the European Union (CJEU) in its ruling of November 17, 2016 (Az.: C-216/15).
Barcelona – Gonzalo Butori and Graziano Cecchetti, Partners at the newly opened Giambrone Barcelona office, attended the 4 th edition of the International Trade Fair of the Legal Profession held by the Barcelona Bar Association (ICAB) on February 16 th and 17 th .
America’s Federal Bureau of Investigation (FBI) announced its intention of pursuing organisations involved in binary options fraud across the globe. The FBI’s Complex Financial Crimes Unit will seek to draw on the relationships that it has forged with law enforcement agencies worldwide to pursue and bring down the fraudulent organisations that prey on innocent victims and leave a trail of destruction in their wake.
VEGAS LEX experts have discussed procedural specifics of supporting cartel damage disputes at a Pravo.ru conference on judicial practice in 2016 and important 2017 trends.
NautaDutilh assisted Raizen Fuels Finance S.A., as issuer on its USD 500 million 5.3% senior notes offering which successfully closed on 20th January. The issuer is part of the Brazilian Raizen group, the world largest individual producer of sugar cane. The Raizen group also operates a network of more than 5,800 Shell-branded stations in Brazil.
Goltsblat BLP , the Russian practice of international law firm Berwin Leighton Paisner (BLP), has advised ICBC International Leasing , the leasing subsidiary of the world’s biggest financial group, on delivery of six Airbus A321-211 aircraft to Aeroflot.
Seriously offending one’s work colleagues constitutes good cause justifying exceptional notice of dismissal with immediate effect. That was the verdict of the Landesarbeitsgericht (LAG) Rheinland-Pfalz [Regional Labour Court of Rhineland-Palatinate] (Az.: 4 Sa 350/15).