International Internet Magazine. Baltic States news & analytics
Friday, 19.12.2014, 12:45
Over the past several months, the State Revenue Service's Financial Police Department has uncovered several other instances of cash register manipulations at catering companies, which, as a result, has led to the state collecting less taxes than possible, informs LETA, referring to the State Revenue Service.
Keyword tags: Financial Services, Latvia, Legislation, Markets and Companies, Taxation
In January-November 2014, the state and municipal budgets collected over LTL 20.41 billion (EUR 5.91 billion) in revenue, by 0.8% more than planned, informs LETA/ELTA.
Latvian Saeima Budget and Finance Committee today approved amendments to the Law on Taxes and Fees that stipulate making companies' board members personally responsible should their company be found guilty of tax evasion; the parliament will now review the bill in the final reading, reports LETA.
As the result of the obligation to register employees in the Working Registry starting July and the observations of the Estonian Tax and Customs Board, in four months, the number of people receiving official income has increased by nearly 9,000 and the effect of all this on Estonian tax revenues is an estimated 5.1 million euros, LETA/Postimees Online reports.
The Lithuanian Parliament has proposed to tax immovable property worth more that LTL 760,000 (EUR 220,000) by a 0.5 percent rate. This would affect approximately 4,700 Lithuanians. Prime Minister Algirdas Butkevicius says that the tax is aimed only at the rich, reports LETA/ELTA.
The Estonian Tax and Customs Board collected 478.7 million euros of taxes in November 2014, which is an increase of 10.3% as compared to the same time last year, LETA/Public Broadcasting reports.
On Friday, the government of Latvia approved the much-criticized amendments to the Law on Taxes and Fees that stipulate making companies' board members personally responsible should their company be found guilty of tax evasion, informs LETA.