Latvian IRS
Thread poster: Max Masutin

Max Masutin
Ukraine
Local time: 21:42
English to Russian
+ ...
Apr 29, 2008

Are the following statements by a British agency in Riga true?
1)Invoices must be only from registered (in their respective countries) translators, so they can submit them to the Inland Revenue Service (so they call it).
2)If wire transfers do not contain references to an invoice (as I requested), they can be fined when the IRS audits them.
Thank you.


 

Jana Teteris  Identity Verified
United Kingdom
Local time: 19:42
Latvian to English
+ ...
State Revenue Service Apr 30, 2008

Max Masutin wrote:

Are the following statements by a British agency in Riga true?
1)Invoices must be only from registered (in their respective countries) translators, so they can submit them to the Inland Revenue Service (so they call it).
2)If wire transfers do not contain references to an invoice (as I requested), they can be fined when the IRS audits them.
Thank you.


I'm not entirely sure I understand statement 2. Have you asked a company/agency to transfer you money without actually specifying what the payment is for (eg. invoice number)? If so, this statement is correct (as confirmed by my accountant).

The following may help:
www.vid.gov.lv (State Revenue Service)
http://www.liaa.gov.lv/?object_id=1959 (Latvian Development Agency)

The Law on Accounting
The Law on the Annual Accounts of Undertakings


[Edited at 2008-04-30 06:48]


 

Max Masutin
Ukraine
Local time: 21:42
English to Russian
+ ...
TOPIC STARTER
Can I still get my money? Apr 30, 2008

Thank you, Jana. You've been very helpful. If it's not more trouble, could you ask your accountant, whether there are ways at all, a Latvian company can send money without mentioning an invoice in the payment order (wire transfer form, etc.) Otherwise, in my case, how would they reconcile the amount receivable from the client and nothing payable to the translator?
I am not registered and can perfectly legally receive payments as long as there are no references to business operations, such as invoices. That agency is my only client refusing to comply with my request. I had no experience with Latvian agencies and think they should have warned me.


 


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