Financial Services, Latvia, Taxation
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Thursday, 28.03.2024, 10:47
Latvian Government prepares to tackle tax reform next week
Karins promised to do everything to ensure that the
government can hear the Finance Ministry's report on possible tax changes next
week, thus "dispelling myths" and providing full information about
the reform plans to the public.
The prime minister said that the Finance Ministry's proposal
includes a mandatory minimum social contribution for all, so that everyone was
entitled to social assistance, for instance, in the event of job loss. At the
same time, there are no plans to change the standard tax regime.
"We are not talking about tax hikes. What we are
discussing is an internal redistribution of taxes, because we know that there
are three things we need to provide: predictable funding for healthcare and
teachers' salaries and a solution in relation to the Constitutional Court's
ruling on guaranteed minimum income," the prime minister said.
As for the New Conservative Party's calls for a debate on
real estate tax, Karins said that the issue has not been discussed in the
context of tax reform.
"I will not support simple tax hikes, because the goal
is to improve the system," the prime minister, adding that broad
discussions are still expected on the issue of the new cadastral values that
can cause taxes on many properties grow disproportionally.
The government has to adopt the Finance Ministry's
informative report to prevent "speculations and scaremongering",
Karins said, noting that people lack deeper understanding of the discussions
going on in the government.
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