Self-employed persons in Latvia who are paid less than minimal wage will pay taxes proportionate to 10% of their earnings starting next year, as agreed by parties of the ruling coalition. Prime Minister Krisjanis Karins said after meeting with parties of the government that on November 16 it was possible to resolve the remaining matters…
In January-October, the Freeport of Riga handled 19,816,300 tons of cargo, down by 27.5% YoY. According to the port’s statistics, handing of grain increased by 25.9%, to 2.13 million tons, coal handling fell by 70.7%, to 2.5 million tons, chemicals – by 16.7%, to 1.2 million tons, ore increased by 5.8%, to 507,700 tons, wood…
State Real Estate (VNI) will soon commence restoration of the facade of the Corruption Prevention and Combating Bureau (KNAB) in Riga, 1 Citadeles Street. A contract for EUR 452,630.48 (no VAT) has been signed. Work will be performed by SIA Laba maja Latvija and it is planned to be completed in spring 2021, as reported…
On November 11, Latvian Saeima’s Budget and Finance Committee supported for the final reading amendments to the Law on Social Security that provided for defining minimal income thresholds, their lowest volumes and the frequency of their review. The legislative draft has been included in the state budget legislative package. The legislative draft currently states that…
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…