Skip to main content
Baker Tilly Latvia
Close
Insights
Reset
Article Advisory Other industries
Smarter rules or looser standards?
A sweeping rollback of key European Union (EU) green laws is on the table, potentially relieving tens of thousands of businesses from disclosing their environmental impact and climate risks. Last month, the European Commission (the Commission) announced that 80 per cent of EU companies could be exempt from mandatory sustainability disclosure requirements under its eagerly anticipated Simplification Omnibus package – marking a stark shift from the EU's previously aggressive environmental stance.
Mar 20, 2025
ESG
Article Tax and Legal Advisory Other industries
EU announces major CBAM simplifications: Reduced compliance burden for SMEs
On the 26th February, the EU Commission announced its ‘Omnibus’ package, confirming the simplifications to the Carbon Border Adjustment Mechanism (CBAM). The proposal document and supporting ‘Commission Staff Working Document’ (SWD) were released the following day, outlining amendments to CBAM Regulation 2023/956. Baker Tilly Ireland have reviewed the key points of interest from the proposal document and provided analysis.
Mar 20, 2025
EU announces major CBAM simplifications
Article Accounting
The Importance of Financial Planning for Businesses
Although companies may have various future plans, financial projections, or rough strategic estimates, a detailed and precise budget—especially long-term—is rarely found. However, regularly prepared future business plans and financial flow forecasts significantly facilitate decision-making for management and owners, help achieve set goals, attract creditor or investor funds, and help successfully sell a company.
Reinis Ceplis Feb 26, 2025
Finansu plusmu planosana
Article Tax and Legal
Update America First (again): New tariffs for Mexico, Canada and China?
US President-elect Trump has announced “punitive tariffs” of 25% on all goods from Mexico and Canada. German companies would also be affected. The new announcements show: Companies in the European Union should take the indications of EU punitive tariffs very seriously.
Feb 17, 2025
America First New tariffs for Mexico Canada and China
Article Advisory Other industries
Application of an appropriate discount rate when performing an impairment test of assets
When conducting an annual audit, significant issues may emerge that could substantially affect a company's financial results. One of the most common concerns among business owners is the impairment testing of assets which directly impacts the company's profit and loss statement by increasing expenses, which, in turn, reduces equity on the balance sheet. This reduction can limit the company’s ability to pay dividends, weaken its equity ratio, and trigger a breach of bank loan covenants.
Reinis Ceplis Feb 6, 2025
Discount rate BT
Article Advisory Other industries
The ESG evolution: What 2025 holds
Stricter regulations, rising investor expectations and rapid technological advancements are poised to make 2025 a defining year for the global environmental, social and governance (ESG) landscape. Our Baker Tilly International network in Brazil partners discuss the trends.
Jan 30, 2025
The ESG evolution What 2025 holds
Article Tax and Legal
Weatherford Atlas: a VAT case with a broader impact?
On December 12, 2024, the Court of Justice of the EU (CJEU) passed judgment in a case concerning the VAT deduction of the purchase of intercompany, cross-border administrative services by a Romanian entity. Our Baker Tilly International network partners in the Netherlands discuss the Weatherford Atlas judgment and whether it has a broader impact on the interplay between VAT, direct taxes and Transfer Pricing (TP).
Jan 10, 2025
Weatherford Atlas a VAT case with a broader impact
Article Tax and Legal
Virtual services and VAT: new rules as of 1 January 2025
VAT rules for certain ‘virtual services’ in the EU are about to change. This will affect services such as live-streamed cultural events and paid webcam sessions, for example. The new rules to determine the place of supply take effect as of 1 January 2025. Our experts explain exactly what these changes mean and how they will affect entrepreneurs. See more details in an article prepared by Baker Tilly International network partners in the Netherlands.
Dec 11, 2024
Digital Services
Article Advisory
Customs Talks: How the new EU Deforestation Regulation (EUDR) will impact business with the UK
The EU Deforestation Regulation (“EUDR”) will affect international trade. Although it only sets rules for EU importers, these rules will have an effect further up the supply chain. As the United Kingdom is an important trade partner for the EU in general and the Netherlands in particular, this new legislation will impact trade with the UK too. In this article, we discuss a number of points of attention concerning the EUDR for UK businesses.
Nov 7, 2024
Bos met weg in het midden
Article Advisory
EU Deforestation Regulation (EUDR): stringent rules for importers, operators and traders
The ‘Deforestation Regulation’ is a new instrument to achieve the environmental targets. The Deforestation Regulation was originally set to enter into force on 30 December 2024, but the European Commission recently proposed to postpone the implementation. If the European Parliament and the Council agree to this postponement, the legislation will apply to large enterprises from 30 December 2025 onward, and to micro and small businesses from 30 June 2026 onward.
Nov 7, 2024
Bos naaldbomen van bovenaf gezien
Article Tax and Legal
ECJ rules in another toll manufacturing case: no VAT fixed establishment
The evaluation of VAT fixed establishment in Latvia continues to raise practical questions. Below, you’ll find our colleague’s review of the European Court of Justice case, Adient (C-533/22). The key question in the Adient case was whether a group company providing manufacturing services to its parent company should be considered a fixed establishment of the parent company for VAT purposes. Below, you'll discover interesting insights about situations where this may not be the case.
Oct 14, 2024
08 PEOPLE
Contact one of our experts
Contact us