International Internet Magazine. Baltic States news & analytics
Saturday, 30.08.2014, 23:14
Latvia must avoid unbalanced state budget, therefore Latvian politicians should not be overly enthusiastic with ideas about tax reductions, the head of the European Commission Representation in Latvia, Inna Steinbuka said in an interview with LNT television this morning, cites LETA.
Keyword tags: Analytics, Economics, EU – Baltic States, Latvia, Legislation, Taxation
Personal income tax revenue in municipalities' budgets in Latvia in 2014 could exceed the annual plan by EUR 4.1 million, the Finance Ministry forecasts, cites LETA.
Companies that were forced to face financial difficulties due to Russia's food embargo, will receive a tax-payment extension for up to five years in Latvia, the government decided yesterday, informs LETA.
For the state it takes years to recover taxes from commercial banks, while they increase service fees almost every month in Lithuania. Banks are assisted by influential intercessors in their disputes with the state, informs LETA/ELTA, referring to Lietuvos rytas.
When Russia imposed import bans in the past, Lithuanian traders successfully diversified their sales, shows the analysis carried out by the State Tax Inspectorate (VMI). 2013-2014 first half results of companies trading with Russia were compared, reports LETA/ELTA.
As dairy processing companies claim that in the face of the Russian embargo farmers should be supported instead of processors, Lithuanian meat processing companies are interested in a lower rate of value added tax (VAT), reports LETA/ELTA.
Not the dairy processing companies, but the farmers, who sell raw milk, should receive financial assistance from the state, says Dalius Trumpa, Chair of the Board of Lithuania-based dairy processing company Rokiskio Suris, cites LETA/ELTA.