Latvia: minimal social contributions to be paid by all citizens

Compulsory minimal state social insurance contributions should be paid by all Latvian citizens, because everyone should be socially protected independently regardless of their sector of employment, said Culture Minister Nauris Puntulis. When asked about a comment on culture industry’s workers’ arguments that minimal social contributions would not guarantee financially secured retirement anyway, the minister said…



Latvia: tax revenue up in August 2020

Tax collection in Latvia continued to improve in August, securing 8% more to the state budget when compared to the same month of 2019, according to the report from Fiscal Discipline Council (FDP). The council stresses that collection of compulsory state social insurance contributions has improved. “This means the previous outlook, about the lowest point…

Latvia: changes expected for natural gas tariffs

Gaso has turned to Latvia’s Public Utilities Commission (SPRK), submitting a new tariff project for natural gas transmission system. This project provides for an increase of fixed and variable components only for small connections with low consumption, as reported by Gaso. It provides for a small fixed fee increase of 5% for second to eighth…

Latvia: GDP down in Q2 2020

In April-June, compared to Q2 2019, gross domestic product (GDP) decreased by 8.9% (according to seasonally and calendar non-adjusted data). In the first half of the year GDP reduced by 5.4%. In Q2, GDP at constant prices was EUR 6.9 billion. As compared to the previous quarter, GDP fell by 6.5% (according to seasonally and…