Analytics, Financial Services, Latvia, Taxation

International Internet Magazine. Baltic States news & analytics Monday, 26.08.2019, 04:03

44,043 business operators pay micro enterprise tax in Latvia in early November 2018

BC, Riga, 01.11.2018.Print version
There were 44,043 business operators registered as payers of micro enterprise tax in Latvia in early November this year, and 51,033 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 November 1, 2018, Latvian authorities have received a total of 98,960 applications from tax payers seeking the status of micro enterprise tax payers.

Of those, 47,759 applications were submitted by corporate entities, 47,651 applications were from individuals and 3,556 applications were filed by individual business operators.

Applications for the status of micro enterprise tax payers were approved in case of 45,904 corporate entities, 45,904 individuals and 3,441 individual business operators.

At the same time, 1,627 applications from corporate entities, 950 applications from individuals and 76 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 40,000 euros will be paying a 15% tax, starting from this year, and the 20% tax will be applied to the turnover in excess of 40,000 euros with special rules applying during the transition period in 2018 and 2019.



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