In September, the foreign trade turnover of Latvia amounted to EUR 2.7 billion, which at current prices was 7.7% larger than a year ago, of which the exports value of goods was 13% higher, but imports value of goods – 3.5% higher. Latvia exported goods in the amount of EUR 1.28 billion, but imported –…
On November 9, Saeima’s Budget and Finance Committee rejected the proposals submitted by the opposition politicians on reduction of VAT not just in general, but for multiple industries affected by COVID-19 crisis. The proposals in question were submitted for amendments to the Value Added Tax Law, already included in the state budget legislative draft for…
Because of COVID-19 it has been decided to extend tax payments for companies in Latvia. The total amount of taxes under this change reaches EUR 145.49 million, according to data compiled by the State Revenue Service (VID). In nine months of 2020, 8,956 taxpayers were provided with 27,240 tax payment term extensions. Generally tax payment…
Banks in Latvia are well prepared to overcome the COVID-19 crisis, chairperson of the Finance and Capital Market Commission (FKTK) Santa Purgaile has said. “Banks are in financially good health to overcome this crisis,” said the head of FKTK, adding that banks were strong and their liquidity was good. At the same time, Purgaile admitted…
On November 5, Latvian-Russian border will be opened for energy imports from Russia to Baltic States,the transmission system’s operator Augstsprieguma tikls (AST) reports. This decision was made, considering that on November 3, Astravyets NPP became operational in Belarus and Lithuania decided to close the Belarusian-Lithuanian border for imports of energy from third countries to Baltic…
Compared to September 2019, manufacturing production output according to calendar adjusted data at constant prices decreased by 0.6% in September 2020. Production output decreased in electricity and gas supply by 22.7%, with a significant decrease in the volume of electricity produced in combined heat and power plants (CHP) and gas supply to consumers. In turn,…
Healthcare Ministry proposes diverting EUR 15.08 million towards coverage of expenditures of laboratory COVID-19 tests, as provided by the ministry’s prepared decision project, which will be reviewed by the Cabinet of Ministers on November 3. The ministry explains that following the beginning of the COVID-19 pandemic, the state has paid for laboratory tests. Funding was…