All form of relief relates to the income of an individual who is a Latvian resident.
The following amounts are subject to the definition and ceilings in Latvian law:

Latvia Business Deductions

• Offset of losses: - A loss incurred from 2008 onwards may be offset forward indefinitely.
  It is not possible to offset a loss from previous years.
• Consolidated statements - in Latvia consolidated returns are not allowed.
  Yet, under certain terms a loss in one company of a group may be set against a profit in another company in the group.
• Financing expenses - interest on credit is allowable for tax.
  Nevertheless, the interest is not deductible if the debt to equity ratio is more than 4:1.
• Employer's voluntary contributions to pension and health funds are allowable to an amount of LVL 40 per employee per month.

Latvia Depreciation of Fixed Assets

• The "double-declining balance" is the method of depreciation adopted in Latvia.
• The rates of depreciation in Latvia:
  

  Class of Asset	% Depreciation
  Buildings and equipment	10
  Computers and peripheral equipment	70
  Road infrastructure and transport vehicles	20
  Vehicles and ships	30
  Patents	20 (straight line method)
  Oil drilling equipment	15

• Research and development expenses may be deducted entirely in the year of purchase