News

‘Acquisition International’ Finance Awards 2018


30 August 2018
On 17 August 2018 ‘Acquisition International’ (AI) has announced Merhels as the winner of the award ‘Best Accountancy Firm 2018 - Latvia’.
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Merhels assists AVS Verkehrssicherung GmbH with their acquisition of KMK Projekts


20 August 2018
Merhels provided financial advisory support to AVS Verkehrssicherung GmbH (“AVS”) on the acquisition of KMK Projekts, a leading provider of traffic safety products and permanent road marking in Latvia. AVS is a leading specialist provider of professional traffic safeguarding in Germany – especially for major projects on federal motorways. For more than 30 years, AVS has been offering complete services for traffic safeguarding from a single source.Within the deal Merhels assisted AVS with execution of financial due diligence of KMK Projekts.

Doing Business in Latvia - snapshot


16 August 2018
Merhels has updated its Doing Business in Latvia snapshot guide. It contains only high-level considerations summarised on one page. The guide has been prepared for the assistance of those interested in doing business in Latvia. As a snapshot, it does not cover any of the subject in detail and is intended only to give the first feel about Latvia. The snapshot includes legislation in force as of 30 June 2018.

Click here to access the report.

20 Years of Excellence


10 August 2018
August 10, 2018 marks a significant milestone for Merhels - 20 years ago on that day the Firm was founded. Edvards Merhels, managing partner and the Firm’s founder reflects: “These twenty years have passed by a blink of an eye. I very well remember my first day of work at Merhels, the first project, and the first audit season. Over the years, I have cultivated the same driving force behind establishing the Firm - producing meaningful output, making a difference, helping people and always doing the right thing. These values have shaped the practice which, judged by its impeccable reputation, personalised client service approach and breadth of services, I believe is now the leading independent Latvian national accountancy firm."
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State revenue service (SRS), already 4th time, praises our tax payment discipline


15 May 2018
SRS regularly evaluates tax payments made by tax payers to the state budget to express gratitude to those who in a good faith comply with obligations set by tax laws and pay significant amount of tax to the budget. Merhels, fourth time in a row, has been praised by SRS in this regard. This recognition inter-alia has very practical consequences - SRS will not burden our Firm with any kind of detailed scrutiny at least until April 2019 unless we force them to do that by our actions.

Merhels advises B2Kapital with their acquisition of loan portfolio from Hiponia


15 January 2018
Merhels advised B2Kapital SIA in the acquisition of a non-performing loan portfolio from Hiponia SIA in Latvia.

B2Kapital procures and manages corporate and retail, secured and unsecured non-performing loans. The company is based in Riga, Latvia. It operates as a subsidiary of B2Holding ASA, a leading European distressed asset solution provider for banks and institutional vendors.

Within the acquisition process Merhels assisted B2Kapital with valuation of the loan portfolio.

Transparency report 2017


29 December 2017
Merhels has issued its Transparency Report for 2017. Transparency report is a public statement of our commitment to provide quality audit services. It briefly describes how we run the firm, perceive and perform audits.

Click here to access the report.

‘Acquisition International’ Finance Awards 2017


27 September 2017
On 26 September 2017 ‘Acquisition International’ (AI) has announced Merhels as the winner of the award ‘Best Accountancy Firm 2017 - Latvia’. 
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Tax reform 2018 - snapshot


18 September 2017
The Government in August 2017 approved changes to the Latvian income tax system to stimulate reinvestment of profits and implement progressiveness in taxation of personal income. Estonian corporate income tax system has been the source of inspiration when it comes to overhaul of Latvian corporate income tax system. Implementation of progressiveness of taxation of personal income has been long discussed. Government hopes that the new system will help combating the grey economy and will be fairer.
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Doing Business in Latvia - snapshot


28 July 2017
Merhels has issued its Doing Business in Latvia guide in the form of a snapshot. It contains only high-level considerations summarised on one page. The guide has been prepared for the assistance of those interested in doing business in Latvia. As a snapshot, it does not cover any of the subject in detail and is intended only to give the first feel about Latvia. The snapshot includes legislation in force as of 30 June 2017. As a piece of warning – Latvian income tax system is subject to overhaul and hence information contained regarding income tax may very soon become obsolete.

Click here to access the report.

Examination of EU funded projects


17 July 2017
In May and June of 2017 Merhels was contracted to assist European Commission’s Directorate-General for Regional and Urban Policy in execution of their audits and controls. Our tasks included verification and analysis of final control reports put together by national audit authorities covering EU funded programmes in planning period 2007-2013 and setting-up action plan to avert identified problems.
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State revenue service (SRS), already 3rd time, praises our tax payment discipline


09 May 2017
SRS regularly evaluates tax payments made by tax payers to the state budget to express gratitude to those who in a good faith comply with obligations set by tax laws and pay significant amount of tax to the budget. Merhels, third time in a row, has been praised by SRS in this regard.
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Lawyer Monthly Witness Award 2017


10 March 2017
Lawyer Monthly has selected Edvards Merhels, managing partner of Merhels, for a Lawyer Monthly - Expert Witness 2017 Award in recognition of his specialized knowledge and experience within the area of strategic business consultancy.
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BID Group One ISLQ Award


23 January 2017
On 12 January 2017 BID Group One (BID), whose international activity promotes Quality Culture, Innovation and Excellence, has chosen Merhels to receive the International Star for Leadership in Quality (ISLQ) Award.
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