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Saturday, 01.08.2015, 00:25
The Justice Ministry in Latvia is suggesting to raise the fine for wages paid under the table to EUR 2,100, informs LETA.
Keyword tags: Analytics, Financial Services, Latvia, Legislation, Markets and Companies, Taxation, Wages
In the first six months of the year 2015, the consolidated budget had a EUR 217.5 million surplus, however, tax revenue was EUR 9.9 million lower than planned, the Finance Ministry's representatives told LETA.
In the first half of the year 2015, companies have paid 95 million euros more VAT than last year in Estonia, which the Tax and Customs Board (TCB) considers a result of the introduction of the obligation to report 1,000 euro transactions, informs LETA.
Latvian Employers' Confederation and president agree that tax policy needs to be stable and predictable27.07.2015
Tax policy and tax system need to be stable and predictable in the long term, which will foster investors' confidence in Latvia, President Raimonds Vejonis agreed during a meeting with representatives from the Latvian Employers' Confederation on July 24th, reports LETA.
It would be the greatest and worst mistake to raise the value added tax – there is no country, except Greece, that is considering increasing VAT during budget talks, the Bank of Latvia President Ilmars Rimsevics said on July 23rd, cites LETA.
Estonian Prime Minister Taavi Rõivas said on Thursday that the Social Democratic Party amendments to the coalition agreement will be discussed in the Reform Party board, but a firm "no" will be said to tax increases, LETA/Delfi reports.
According to the Ministry of Finance, the Estonian state budget collected revenue of 3.93 billion euros in the first six months of the year; this is 48.5% of the total amount planned in the budget, reports LETA.