Extraordinary dividends – amendments to the Commercial Law

On July 1 of this year, amendments to the Commercial Law entered into force. The amendments were adopted by Saeima approximately a year ago - on June 16, 2022.

The amendments anticipate that a limit for extraordinary dividends, which until now was set at 85% of the profit earned in the period for which the extraordinary dividends were determined, is abolished. 

The amendments also change several norms included in the Commercial Law regarding shares, share capital payment, provide for new information to be entered in the commercial register and documents to be submitted, as well as significantly change the existing regulation of joint stock companies.

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Ina Spridzane

Tax project manager, Certified tax consultant