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Friday, 19.09.2014, 00:44
Latvian Saeima approves extension of tax payment terms for companies suffering from Russia's sanctions18.09.2014
Saeima passed several draft bills in the final reading today stipulating deferred or split tax payments for companies that have delayed tax payments due to Russia's restrictions on food import.
Keyword tags: Baltic Export, Baltic States – CIS, Latvia, Legislation, Markets and Companies, Taxation
EU and China’s national authorities prevented losses of over €80 million in customs duties, during a major joint customs operation (JCO) coordinated by the European Anti-Fraud Office (OLAF) from February to March 2014.
32 companies affected by the Russia sanctions have turned to the State Revenue Service (SRS) with a request for tax holidays, the Revenue Service informed the business information portal Nozare.lv, cites LETA.
Lithuania wants to create jobs through Norwegian businesses, offering financial zones with zero tax, and highly-educated, hardworking employees. In the last five years, Norwegian investment in the country has doubled, the government agency Invest Lithuania said, cites LETA/ELTA.
From January to August 2014, the state budget received more income from taxes than it had been projected, totalling LTL 12.294 billion (EUR 3.563 billion), reports LETA/ELTA, referring to the Ministry of Finance.
The city of Tallinn budget collected 348.5 mln euros of revenues in the first eight months of the year 2014, forming 67.4% of the annual plan, LETA/Public Broadcasting reports.
"We are taking the right steps to combat shadow economy, however, in order to achieve a result, we must cooperate with business organizations," Finance Minister Andris Vilks (Unity) believes, adding that businesses are governed by double standards to a certain extent, thus, not only the state is tricked, but also the employees.