Covid-19, Crisis, Financial Services, Latvia, Markets and Companies
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Thursday, 25.04.2024, 19:50
Latvia Covid-19: Downtime regulation to be applied also to companies with tax debts
According to the new amendments approved by the government, the downtime pay will be provided to employees of companies whose tax debts do not exceed EUR 1,000.
A company with tax debts bigger than EUR 1,000 has to negotiate tax deferral or an agreement on voluntary tax payment with the State Revenue Service, so that its employees can claim downtime pay.
Under the previous regulation, the State Revenue Service did not grant downtime pay to employees of companies whose tax debts exceeded EUR 150 as at March 7 and that had not negotiated tax deferrals.
As reported, companies that meet certain criteria can apply for downtime benefits for their employees, up to 75% of their salaries but not more than EUR 700 a month. Self-employed persons and microenterprise employees are also eligible for downtime benefits.
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