Payroll services in Latvia

Using Wisecounter's payroll service provides you with piece of mind since the salaries of your Latvian company's employees are promptly and correctly calculated, wage taxes are indicated, and reporting is timely and error-free.

Why choose us?

• Our accountants stay current on the laws regulating salary payments as well as the continuously evolving legal framework in Latvia. Although Latvia's regulations on employee payments and employer status are comparable to those of other EU member states, there are some significant and subtle distinctions. Microenterprises, for instance, are subject to tax-related differences; in the case of social taxation, the issue of solidarity tax arises; moreover, Latvia has a progressive income tax system.

• Our many years of expertise allow us to guarantee that your employees' payroll accounting complies with all legal requirements and takes into consideration the relevant nuances. The foundation of our service consists of meeting deadlines, comprehending Latvian fringe benefits and calculating wages accordingly, and submitting all required declarations in the electronic system of the Latvian Tax Office. All of those tasks are completed accurately and without compromise.

• We can help avoid and resolve issues that arise as a result of collective bargaining agreements. In Latvia, builders' and railway workers' unions function according to legally binding collective bargaining agreements. These are nevertheless quite powerful organisations, even though labour union supervision in Latvia may not be as strict as it is in Finland or Sweden. For instance, the union contract for Latvian construction workers guarantees a steady rise in pay and training benefits. It also grants employers the authority to base the computation of total working time over a 6-month period and compensate overtime at a rate of 50%.

• The entrepreneur often saves money and guarantees higher payroll data confidentiality by acquiring payroll as a service. Payroll accounting is required for all newly formed companies and for the first employee, therefore, it makes sense to choose a trustworthy partner to handle this task from the very beginning of operations in Latvia. Our regular customers are successful Estonian businesses that have begun operations in Latvia through a subsidiary. Generally, an accountant working for the firm in Estonia is not qualified to handle payroll accounting in Latvia, including filing reports in Latvian regarding employees.

• We perform payroll for Estonian contract employees who are posted to or permanently employed in Latvia. We can ensure that wage payments and employment-related reporting adhere to both Estonian and Latvian legal requirements and that the interests of both employers and employees are safeguarded since we have in-depth knowledge and experience in handling combined Estonian and Latvian payroll.

• If required, we may assist our customers with further labour law-related matters as well, including employment contracts, workplace safety, solving labour disputes, etc. Similar to Estonia, the legislature of Latvia strives to establish equitable and secure working circumstances that do not jeopardise the health of employees. Consequently, it is important to adhere to several regulations and possess accurate paperwork, which can be provided to the authorities upon request. Based on our experience, the employer may save money and avoid the disagreement from getting worse when a third party mediates an employment dispute.