Analytics, Business, Latvia, Statistics, Taxation

International Internet Magazine. Baltic States news & analytics Monday, 25.05.2020, 18:02

Over 43,500 business operators pay micro enterprise tax in Latvia in early August

BC, Riga, 02.08.2018.Print version
There were 43,583 business operators registered as payers of micro enterprise tax in Latvia in early August this year, and 49,788 entities have been removed from the list, informs LETA referring to the statistics of the Latvian State Revenue Service.

From September 1, 2010, when the micro enterprise tax was introduced in Latvia, till August 1, 2018, Latvian authorities have received a total of 97,109 applications from tax payers seeking the status of micro enterprise tax payers.

Of those, 47,106 applications were submitted by corporate entities, 46,501 applications were from individuals and 3,502 applications were filed by individual business operators.

Applications for the status of micro enterprise tax payers were approved in case of 45,194 corporate entities, 44,797 individuals and 3,398 individual business operators.

At the same time, 1,565 applications from corporate entities, 921 applications from individuals and 71 applications from individual business operators were rejected.

As of December 31, 2017, a total of 3,896 companies lost the status of a micro enterprise tax payer.

As reported, the Latvian parliament in July 2017 adopted amendments to the Law on Micro Enterprise Tax under which micro enterprises with annual turnover below EUR 40,000 will be paying a 15 percent tax, starting from this year, and the 20 percent tax will be applied to the turnover in excess of EUR 40,000 with special rules applying during the transition period in 2018 and 2019.


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