Analytics, Business, Latvia, Statistics, Taxation
International Internet Magazine. Baltic States news & analytics
Tuesday, 23.04.2024, 18:00
Over 43,500 business operators pay micro enterprise tax in Latvia in early August
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.