The parties of the Latvian government have reached an agreement on the general framework of the 2021 state budget and the planned tax reform. “After several months of debates, we have agreed on the framework of the 2021 budget,” Prime Minister Krisjanis Karins said on September 21. Karins elaborated that the budget of the next…
In Latvia, the level of producer prices in industry decreased by 2.7% YoY in August, the data of the Central Statistical Bureau (CSB) showed. In a press release on September 21, the CSB reported that in a monthly comparison, from July to August, the level of producer prices in Latvian industry remained the same. Prices…
Foreign investors in Latvia propose establishing a single tax regime for all short-term small service providers that perform services on their own, stresses the Foreign Investors Council Latvia (FICIL) in its document on tax policy. Investors also recommend expanding the existing simplified tax payment regime to include taxpayers like nannies, barbers, photographers, cleaners, designers and…
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…
In July, the foreign trade turnover of Latvia amounted to EUR 2.38 billion, down by 3.5% YoY at current prices was 3.5%, of which the exports value of goods dropped by 0.3%, and imports value of goods – by 5.9%. Latvia exported goods in the amount of EUR 1.05 billion, but imported – in the…
Prime Minister Krisjanis Karins hopes the government will be able to approve next year’s budget framework as soon as next week, as the politician admitted in a conversation with journalists after meeting with coalition partners on September 7. The prime minister explained that the next year’s state budget would be the main topic of government…
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…