Public holidays in December and January

19 December 2016
Our Office will be closed for the holiday season for the following days:
  • 26 December 2016
  • 30 December 2016
  • 2 January 2017
The office will be open as normal on 27, 28 and 29 December 2016.
With best wishes for Great Festive Season and New Year!

‘Wealth & Finance International’ 2016 European Business Award

14 December 2016
On 14 December 2016 ‘Wealth & Finance International’ has announced of having presented Merhels with the ‘2016 European Business Award’.

Transparency report 2016

08 December 2016
Merhels has issued its Transparency Report for 2016. Transparency report is a public statement to clients, audit committees, regulators and the wider public of our commitment and ability to provide quality audit services. It briefly describes how we run the firm, perceive and perform audits.

Click here to access the report.

‘Finest in Audit Services’ Award

08 November 2016
On 1 November 2016 ‘Corporate Vision’ announced that Merhels has been recognized as the exclusive winner in Latvia’s SME sector as the ‘Finest in Audit Services’.

‘Wealth & Finance International’ 2016 Tax Excellence Award

21 October 2016
On 17 October 2016 ‘Wealth & Finance International’, following extensive research by their in-house team, has announced of having presented Merhels with the ‘2016 Tax Excellence Award’ as the exclusive winner in Latvia.

Audit thresholds in the Baltics

17 October 2016
The basic statutory audit threshold criteria for standalone financial statements of private companies in the Baltic countries are the same and comprise net sales, total assets and number of staff. However, the numbers in each country are quite different.

Initial reflections on the new Act on Annual Standalone and Consolidated Accounts

29 August 2016
The new Act on Annual Accounts applies to periods starting on or after 1 January 2016. One of the key drivers beneath it is reduction of administrative burden imposed on businesses. As the magnitude of changes is substantial, the compilation of accounts and audit thereof, at least initially, will be challenging both to accountants and auditors. Whilst we still continue forming the view about the new set of requirements, there are some issues that we would like to highlight.

Finance Monthly Global Awards 2016

04 August 2016
Finance Monthly has announced Merhels as the winner of the award ‘Strategic Business Consultant Firm of the Year Latvia’. 

Finance Monthly says that voting notification email was sent to its entire readership database – over 195,880 contacts were emailed. In total Finance Monthly received an 8.1% response rate equating to 15,866 votes.

Merhels assists BPM with their investment into Optometrijas Centrs

14 June 2016
BPM Mezzanine Fund SICAV-SIF, SCA (BPM), as managed by BPM Capital, has provided financing for the management buy-out (MBO) of SIA Optometrijas centrs ("Optometrijas centrs"). The transaction represents a buy-out of majority ownership held by a number of private individuals and adjusting financing structure of Optometrijas centrs to pursue further acquisitions for market consolidation in the Baltics. Optometrijas centrs is the leading eye care chain operator and eye care products and instruments wholesaler in the region, managing stores in Latvia and Lithuania under the brands Vision Express, Optio, Pasaules Optika and Lornete, as well as internet stores under the brand of dr.Lensor. Established in 1992, the company has built a very strong foothold in the Baltics over the years. Within the deal Merhels assisted BPM with execution of financial and tax due diligence of Optometrijas centrs.

State revenue service (SRS), once again, praises our tax payment discipline

07 April 2016
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, once again, has been praised by SRS in this regard.

Edvards Merhels, managing partner of Merhels Revidenti Konsultanti, comments: “It is a great pleasure and honour to receive gratitude from SRS that Merhels is seen as a good taxpayer. The more pleasing though is the fact that SRS applies top-down risk approach and is serious about building relationships with taxpayers based on trust and cooperation.”

Merhels assists BaltCap with their investment into Uprent

10 February 2016
BaltCap, the leading private equity and venture capital firm in the Baltics, recently entered into an investment agreement with Uprent SIA, an industrial equipment rental company. Uprent is the leading pump and pumping system rental provider in Latvia. It has branches in Estonia, Lithuania and Poland. Within the deal Merhels assisted BaltCap with execution of financial and tax due diligence of Uprent group.

Affiliation with CBA Cross Border Associates

07 January 2016
At close of December 2015 Merhels became a member of CBA Cross Border Associates (CBA), a rapidly growing global network of business associates.