Since December 2020 Latvian State Revenue Service (VID) has paid EUR 115,602,164 in downtime benefits and wage subsidies, as reported by VID representatives. The amount paid in downtime benefits and wage subsidies has increased by EUR 1,695,166 over the course of the past several days. 43,319 companies have been paid downtime benefits worth EUR 77,093,695…Details
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The State Tax Committee has introduced changes in the invoice processing system. Since April 23, taxpayers are able to draw up additional or corrected invoices upon receiving a basis for adjusting the tax base. The downward adjustment of the tax base is made by issuing additional invoices with negative indicators, which correct the information in…Details
The government reached an agreement on a four-year state budget strategy with Minister of Finance Keit Pentus-Rosimannus (Reform) saying there were cuts to be made on fixed costs. The new budget strategy will work towards balancing the budget and cuts will be made in every area of government. Each sector will propose where savings can…Details
The National Bank of Ukraine (NBU) projects that the unemployment rate in Ukraine in 2021 will fall to 9.1% on average and to 8.5% in 2022, according to a quarterly inflation report of the National Bank of Ukraine (NBU) for April. “According to the National Bank, the unemployment rate will decrease and total 9.1% on…Details
Prime Minister of Ukraine Denys Shmyhal has held an online meeting with Chief Operating Officer for the International Finance Corporation (IFC) Stephanie Von Friedeburg. The parties discussed the implementation of joint projects, as well as the development of cooperation between IFC and local governance. Shmyhal noted that due to the consulting and financial support of…Details
The Latvian national airline airBaltic and Riga International Airport have signed a land lease to construct a new cargo hangar Baltic Cargo Hub within the airport’s territory. This hub is planned to become the biggest freight-processing center in the Baltic region, as reported by the airline. Current plans suggest the total area of Baltic Cargo…Details
A grand shift in thought patterns is taking place in USA following the change of administration, the importance of which for the Estonian economy cannot be overestimated, James York writes. U.S. imports were down by 6% last year, while Estonian export to the U.S. grew by 15.5%, to EUR 1.123 billion. While various trends speak…Details