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Saturday, 07.05.2016, 01:32
The Latvian State Revenue Service has met the tax revenue target by 100.6% in the first four months of this year with actual revenue EUR 14.376 million above the planned amount, reports LETA, according to the information from the tax authority.
Keyword tags: Budget, Financial Services, Latvia, Taxation
Saeima in Latvia on May 5th backed in the first reading the Justice Ministry's proposal not to change properties' cadastral value in 2016, informs LETA.
According to Estonian Finance Minister Sven Sester, raising to 40,000 euros the annual turnover threshold beyond which businesses are obliged to register as value added tax (VAT) payers would initially reduce tax receipts by 6.6 million euros, but bigger investments will in the end result in bigger tax receipts, informs LETA/BNS.
Taxi company Baltic Taxi in 2015 managed to avoid the State Revenue Service's penalty of more than EUR 400,000 through an insolvency process, it has also created a network of over 150 companies, which in fact make it possible for Baltic Taxi not to pay value added tax, Latvian Television investigative news program Aizliegtais Panemiens (Sucker Punch) reported last night, cites LETA.
Kaspars Cerneckis, State Revenue Service’s deputy general director in the area of combating crime, has been rotated to the position of the director of the tax debt enforcement department, said State Revenue Service General Director Inara Petersone in a press conference on May 3rd, informs LETA.
From September 1, 2010, when the micro enterprise tax was introduced in Latvia, till May 1, 2016, Latvian authorities have received a total of 77,658 applications from tax payers seeking the status of microenterprise tax payers.
Decreasing economic growth pace in Latvia is the main reason why the State Revenue Service's tax collection in the first quarter pf 2016 was short of the target, as the Revenue Service's Director General Inara Petersone told reporters on April 28th, cites LETA.