Latvian company Dizozols Investments has implemented one of the biggest investment attraction projects in the Baltic States. By using crowdfunding platform Crowdestor, the company has managed to attract investments worth EUR 2.77 million from more than 3,500 investors, as reported by the company. The finalized investment project is one of the biggest crowdfunding projects on…
The decision made by the Latvian Competition Council mentioned that members of the construction cartel were involved in at least 70 procurement projects the total value of which was close to EUR 687 million. The cartel investigation period reaches as far back as 2011 all the way to 2019. The total turnover of companies involved…
Latvian Saeima’s Defense, Internal Affairs and Corruption Prevention Committee decided to conceptually approve the option on letting services providers work as usual as long as they had a negative Covid-19 test result. They will need to cover related expenses on their own, however. This may not apply to employees of healthcare and public institutions. The…
The situation with Latvia’s state budget is good at the moment, Minister of Finance Janis Reirs has said. “If we look at data from the first half-year and July, the situation looks good. Revenue is up by about 6% when compared to last year and 1.7% ahead of planned budget revenue,” said Reirs. The minister…
On August 24, Latvia’s Cabinet of Ministers reviewed a report prepared by the Ministry of Finance on the state base budget and state special budget. Consolidated budget expenditures are estimated at EUR 11.886 billion. For 2022 the ministry has estimated base budget expenditures at EUR 8.741 billion and for 2023 state base budget expenditures are…
Latvian State Revenue Service’s Tax and Customs Police have commenced a criminal procedure over large-scale contraband of tobacco products. Latvian authorities managed to prevent damages worth EUR 400,000 to the state by uncovering this crime, as reported by the service. In August, VID Tax and Customs Police performed investigative measures after receiving a tip regarding…
Latvia is not prepared for the way the economy will be changed by climate neutrality requirements. Mostly businesses in Latvia think only about cost reduction, not new ways of earning in the context of climate requirements, said the governor of the Bank of Latvia Martins Kazaks. “I don’t think the private sector or state administration…