International Internet Magazine. Baltic States news & analytics
Thursday, 30.10.2014, 15:38
In the first nine months of the year 2014, the State Revenue Service collected 3.9% more in taxes when compared to the same period last year, informs LETA, referring to the State Revenue Service.
Keyword tags: Financial Services, Latvia, Taxation
According to the Estonian Ministry of Finance, the Estonian state budget collected revenue of 5.73 billion euros in the first nine months of the year 2014, which is 71.5% of the total amount planned in the budget for the year, LETA/Public Broadcasting reports.
An estimated EUR 177 billion in value added tax (VAT) revenue was lost in the European Union due to non-compliance or non-collection in 2012, according to the latest VAT Gap study published by the European Commission. This equates to 16% of total expected VAT revenue of 26 member states, reports LETA.
Minister of Finance Rimantas Sadzius in Lithuania favourably assesses nine-month tax collection trends and says that the annual state revenue plan will most likely be fulfilled in 2014, informs LETA/ELTA.
The Estonian Employers' Confederation revealed on Tuesday its new Employers' Manifesto, which focuses on the only sustainable wealth of the Estonian society – the working people of Estonia, their standard of living and their preparedness for working life, in other words, it is a list of proposals to political parties for the forthcoming parliamentary elections, LETA/Postimees Online reports.
On Tuesday, in Luxembourg, the finance ministers of the European Union member states discussed promotion of investment and approved the new global standard on automatic exchange of tax information, informs LETA/ELTA.
The Freeport of Riga board has confirmed new changes in port fees, which means that incoming ships will have to pay a cargo or canal fee of 6.85% higher than initially, the company informed the business portal Nozare.lv, cites LETA.