Preparing for the new accounting law

Jan 28, 2020

FICIL calls to participate members interested in contributing to the new Accounting Law on February 12. If you would like to join the meeting discussing the draft law, please sign up: here

In addition, AmCham members are entitled to participating in 12 FICIL working groups through AmCham's associate membership in FICIL. Digitalization, Healthcare and Energy & Waste Management work groups will hold their closest meetings in February. If you are interested in taking part in any of FICIL work groups, please sign up here

Below you will find a list of FICIL's recent and active work groups and a short description of issues the group has been lately focusing on.

Leader: Claudio Rivera (RBS)
The work group representatives have been actively involved in discussion forums on challenges in Latvia's higher education system organised by the Ministry of Education and Science.

Food and Drink Industry
Leader: Nele Normak (Coca-Cola)
It is planned that the work group will cover topicalities regarding sugar tax, initiatives in product labelling, review planed policy initiatives regarding sweeteners, look at topicalities regarding food waste issue and EU proposed rules in plastic reduction.

Economic and Financial Crime issues
Leader: Ulvis Jankavs (SEB) and Andris Lazdiņš (Ellex Klavins)
The work group is working on recommendation for Latvian government to improve legal acts so that they go in line with principles of justice, rule of law and transparency. One of the work group's important tasks among the others is to address the injustice of fraudulent abuse of insolvency system.

Labour Force Issues
Leaders: Irina Kostina (Ellex Klavins) 
The work group has been working on policy and legal issues related to the quality of Latvia's professional education, its compliance with the Latvia's labour market needs, quality of skilled labour and smart immigration policy. FICIL belives that workforce should be made more accesible, improvement of the infrastructure is required in order to attract investments and a labour force and improvments of reulatory framework should be made.

Transport issues 
Leaders: Arnis Kākulis (AECOM)
The work group deals with issues related to transportation policy and logistics issues. The work group has been vocal in raising topics related with transparency of logistics policy and railway tariffs.

Energy and Waste Management
Leader: Dace Cīrule (Deloitte)
Next meeting: February 20 at 8:00 at FICIL office Kr. Barona 13/15-20
The work group deals with issues related to energy sector and waste management policy. Clarify the terms for potential implementation of the deposit system in Latvia and turning waste into resource by promoting material and energy recovery are the priorities in the waste management field. In the field of energy sector policy work group recommends to adopt integrated national energy and climate change plan and promote cost efficiency in the Renewable Energy Policy, demand de-carbonization also from non-ETS sectors and consistency and predictability regarding Mandatory Procurement Component reforms.

Leader: Renārs Rūsis (Swedbank)
Next meeting: February 7 at 9:00 at FICIL office Kr. Barona 13/15-20
The Digitalisation work group is reviewing current IT policies and legislative acts that regulate digitalisation field. Coming out from that analysis, the work group are preparing recommendations in the fields where improvements are needed. Responsibility of IT policy, improvements of G2B interaction, further development of e-Identification solutions and clear digital agenda for Latvia for the next 5 years are on the agenda of the work group.

Construction work group
Leader: Ilze Kramiņa, Zanda Zaļuma (Eversheds Sutherland Bitāns)
The FICIL Construction work group has been a very active participant of the Latvian legal environment, contributing to the improvement of the construction regulations and investment environment in all governmental levels. The work group has proposed reviewing the construction legislation with respect to the liability of the construction process participants and looking for other ways to improve the regulation.

Healthcare issues work group
Leader: Daina Dzirkale (GlaxoSmithKline)
Next meetings: February 4 and February 26 at 11:00 at FICIL office Kr. Barona 13/15-20
Given that the healthcare system is an important topic for every entrepreneur, FICIL has established the Healthcare issues work group. The Healthcarre issues work group is looking at Healthcare Financing Law adopted in the end of last year.

Investment Protection and Court Efficiency
Leader: Māris Vainovskis (Eversheds Sutherland Bitāns)
The work group looks into the existing business legislation and the rule of law which are among most significant factors for investment decisions. The work group is dealing with proposals to improve the quality of business and investment framework to make Latvia more attractive place for investment. Apart from quality of business legislation, court system effeciency and improvements in the Comercial Law makes large part of the work group's agenda. As for this year, the work group also has been following amendments to the Competition Law.

Intellectual Property Protection work group
Leader: Ingrīda Kariņa-Bērziņa (AmCham Latvia)
Intellectual property protection work group reviews legislation related to intellectual property rights and gives its recommendation to the Latvian government for improvement of legal acts.

Tax Policy and Administration work group

Leaders: Vita Sakne (PwC), Aija Kļavinska (Deloitte), Baiba Strupiša (Irish Latvian Chamber of Commerce)
Tax work group is working on issues related to tax administration and policy. The work group is closely following developments in Latvia's tax system and tax administration, and actively coming up with proposals for the State Revenue Service on how to improve the business environment and investment climate through changes and improvements in tax system and/or administration. Predictable tax policy for business, tax administration and fight against shadow economy are top priorities for the work group.

If you are interested in taking part in FICIL work groups, please sign up here

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We are very pleased to be part of AmCham and are looking forward to driving innovation forward in Latvia.

Mikko Fernström, General Manager, Biogen Latvia

Roche Latvija is pleased to be part of the AmCham community.

Rauls Vēliņš, General Manager, Roche Latvija