The tax policy reform will make Latvia more competitive in comparison with other Baltic States. In addition, reforms in the country will introduce the largest PIT benefits for dependents among other Baltic States, Finance Ministry promises. “Tax burden decline for labor taxes and increased benefits will be felt by all residents,” the ministry states. PIT…
Compared to February, the average level of producer prices in Latvian industry grew by 0.1% in March. The prices of products sold on the domestic market dropped by 0.1%, whereas the prices of exported products increased by 0.3%. The prices of products exported to euro area countries grew by 0.2% and of products exported to…
Baltic beverages producer Cido Group continues developing its export potential. The company has commenced exports of juices to Libya this year. This is the first African country that values juices produced in Latvia. Until now, Latvian juices have been exported to markets like China and United Arab Emirates, as reported by the company. All juices…
Next year’s budget gap is EUR 460 million, which is planned to be compensated for by raising taxes for alcohol and fuel. Large Latvian municipalities do not support the government’s proposed tax reform. Leaded petrol excise tax for 1,000 liters is planned to be increased by 7.8%, from EUR 436 to EUR 470 in 2018.…
A contract has been signed for the development of a reconstruction project of Zakusala television tower. The contract provides that a reconstruction project is to be developed in the next two years. The project itself will include reconstruction of technical and administrative rooms, as well as the publicly accessible portion of the television tower, which…
Latvia should watch out for the so-called Estonian model’s introduction in the country’s tax system, says World Bank senior economist Emilija Skroka. World Bank experts are skeptical about this idea. Skroka arrived in Riga for the presentation of the World Bank’s report on Latvia’s tax policy. It was previously mentioned that Latvia’s Finance Ministry plans…