Accounting is closely linked to taxes, the correct calculation of which causes considerable headaches.
In Latvia, the tax system is constantly changing. Also, the legal norms related to taxes are changing as well, and the number of regulatory enactments is increasing. It may be the case that an activity which was in line with the tax law a year ago is already in violation of the tax law today.
In the tax system established in Latvia, it is necessary to look at the provisions of several laws on the same issue. For example: a gift for an employee - you have to look at what the law says about Value Added Tax, Personal Income Tax and Corporate Income Tax.