Car market, Financial Services, Latvia, Legislation, Taxation, Transport
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Saturday, 20.04.2024, 08:32
Revenue Service discovers violations in 96% of companies selling used automobiles
Most often, the Revenue Service’s inspectors found that used car dealers had not ensured traceability of their business transactions, had not written their income declarations correctly or had been breaching car dealing regulations. The tax inspectors also found book-keeping violations and a failure to pay taxes on employees’ wages.
After 107 inspections, the non-compliant used car dealers were fined with EUR 109,600 in total, including for unlicensed commercial activity.
Responding to the Revenue Service’s call, 96 used car dealers submitted updated income statements and declared EUR 250,800 worth of taxes during the inspections, including EUR 236,700 worth of VAT.
Operations of 14 companies were suspended as a result of the inspections.
In 2017, the Tax Control Department of the State Revenue Service paid increased attention to car dealing companies and food services providers.