The micro-enterprise tax has created serious defects for Latvia’s tax system, said Fiscal Discipline Council chairman Janis Platais. “It has caused very serious defects to our tax system. It suffocates growth. It acts against the tax neutrality principle, when taxes should not stimulate one or the other form of business,” Platais said. He believes Latvia…
Inspecting an advertisement published on Facebook, Latvian Food and Veterinary Service uncovered illegal trade of sheep meat, canned meat storage and meat product distribution organized in an office building on Selpils Street, Riga. Upon performing a control purchase, inspectors found that tins with meat were either not labeled or improperly labeled, making it impossible to…
In April, Latvian airline airBaltic carried 287,560 passengers to destinations in Europe, Scandinavia, Russia, CIS and the Middle East. This is a 26% increase when compared with last year. The airline carried a total of 876,328 passengers in the first four months of 2017. In April, the airline performed 4,043 flights, up by 9% YoY,…
Last year, Russia was Latvia’s fourth largest external trade partner. Investment-wise, Russia was on the second place in terms of direct investments in Latvia, as reported by the Latvian-Russian regional cooperation group at a meeting in Pleskava. “As a strong wall is built from smaller bricks, our countries’ cooperation is made up of cooperation instances…
In 2016, the volume of electricity produced in combined heat and power plants kept increasing and accounted for 3,767.4 gigawatt hours (GWh), which constitutes 59% of the total volume of electricity generated in Latvia. Compared to 2015, last year the volume of electricity produced in CHP plants grew by 7%, and the volume of heat…
Predicting changes for housing prices in the next two to three years, 66% of interviewed Latvian residents said prices would likely increase, according to data from DNB Bank’s survey. Every tenth respondent expects housing prices to decline. 18% of respondents are confident that prices will remain the same. The highest proportion of respondents who expect…
More and more companies not only welcome but also motivate banks to develop digital services, as stated in results of Swedbank’s study. Digital services are viewed by businessmen as a major factor. They help businesses organize their work more effectively, as well as save time and ensure much better monitoring of the process. The second…