1. Elas 10 years Anniversary in Latvia.

SIA ELAS Baltic was founded on April 1, 2015, in Jelgava as a subsidiary of ELAS A/S, a company headquartered in Herning in Denmark since its establishment in 1952.

At ELAS A/S, the production of woven and crocheted elastic and ribbons is carried out in running meters at an 8,000 m² factory. Over the past two decades, ELAS has transitioned from catering primarily to the ready-made textile industry—such as underwear manufacturers—to serving the medical industry as its main segment.

SIA ELAS Baltic receives elastic by the meter along with semi-finished components such as Velcro, sewing thread, user manuals, and bags from ELAS A/S. At the Jelgava factory, operations include cutting elastic to precise lengths, ultrasonic welding of Velcro onto elastic, diverse sewing processes, and product packaging. These processes result in belts and straps designed to secure medical products to the body, such as post-surgical belts for thoracic and abdominal care. These belts provide wound support and help prevent hernias.

The Jelgava facility operates with a dedicated team of 75 employees working in two shifts from Monday to Friday. The Plant Manager, Anita Embovica, will celebrate her 10-year anniversary on April 1, 2025. 

2. Film evening 23.04.2025:

Dear all,

You are kindly invited to attend the screening of the Danish film Den store stilhed (The Great Silence/Lielais klusums) by director Katrine Brocks, on 23 April at 17.30 at cinema K.Suns, Elizabetes str.83/85, Riga.

Invitation to the film is attached.

You are also welcome to attend all other films offered by the film forum "..un Vārds tapa filma" (Word became film) 21-25 April.

3. Tax meeting on the 29.04.2025:

Challenges in Tax Policy and Business Recovery:

A Dialogue with the State Revenue Service.

The DCC is delighted to announce that, in collaboration with the Irish, Swiss, and Riga Business Chambers, as well as BDO, we are hosting this exciting event.

Topics:  

· Circumvention of Public Pledge Rights by the Tax Authority.

There is a growing practice where the SRS bypasses registered commercial pledges by reaching out directly to debtors, disregarding the rights of secured creditors. This practice raises serious legal concerns and disrupts fair business operations

· Tax Authority’s Interpretation of Business Transfers in Judicial Auctions.

The SRS often treats the acquisition of company assets through court-approved auctions as a business transfer, which creates legal uncertainty and prevents banks from financing such deals. Essentially, the SRS undermines court decisions and blocks assets from returning to the economy.

· The Role of the SRS in Supporting Export-Oriented Businesses.

Discussion on how tax administration practices can facilitate or hinder exporters, particularly in VAT refunds, customs procedures, and compliance burdens.

· Workation and Cross-border Taxation.

As remote work from abroad becomes more common, businesses and employees face a lack of clear taxation rules and potential double-taxation risks. This topic is highly relevant for international and tech-savvy companies.

The discussion will be moderated by Armands Gūtmanis, President of the Swiss Chamber in Latvia.

Speakers:

• Baiba Šmite-Roķe, Director General of the State Revenue Service

• Jānis Zelmenis, leading partner, tax expert of the BDO Latvia

• Representative of and exporting company (TBC)

• Representative of a financial institution (TBC)

Date: 29^th April, 2025

Time: 11.00 (meet and greet from 10.00)

Venue: Radisson Blu Ridzene Hotel (Reimersa iela 1)

Admission: Chambers members & BDO clients 25 EUR, others – 40 EUR

Registration needed: by e-mail to dcc@dcc.lv before April 25th.

4. Other upcoming events:

• Spring Event Update: Unfortunately, we had hoped to organize a trip to Rezekne and Daugavpils, but we must postpone it for now.

We are, however, open to suggestions for an event in April or May! Let us know your ideas—we’d love your input.

• 05.06.2025 Danish constitution day.

• November 9th and 10th Mortens Aften



Until next newsletter, take care... Best regards,

Anton Thorup, Administrator, Danish Chamber of Commerce in Latvia